Blockchain technology is not just for fintechs. Image: Anton Watman/Shutterstock
Deloitte’s EMEA Blockchain Lab and DNV GL are the first to leverage on blockchain technology to advance the certification industry.
DNV GL, an international accredited registrar and classification society headquartered in Norway, has today (25 September) issued all 90,000 of its certificates using blockchain technology in collaboration with Deloitte – an industry-first for the certification space.
The technology, popularised by cryptocurrency, is being used in a different way.
Luca Crisciotti, CEO of DNV GL, said: “For 150 years, we in DNV GL have been in the business of building trust but, in the age of digital transformation, there is an increased need for transparency in a volatile business environment.”
Uses for blockchain outside of the finance industry
Each certificate is digitally tagged, traceable and stored in a private blockchain, with counterfeit certificates blocked. This allows companies to communicate their certification in a secure manner.
Partner at Deloitte, Martin Bryn, said: “This is one of the first blockchain applications created outside the finance industry and it shows the limitless possibilities this technology provides. Soon there will be concepts, prototypes and investments emerging in every major industry.”
Groundbreaking collaboration between Deloitte and DNV GL
EMEA Blockchain Lab lead at Deloitte, Lory Kehoe, described the project as groundbreaking, adding: “This is an excellent example of blockchain technology entering the production life-cycle stage of the technology, with DNV GL and Deloitte at the forefront of this digital transformation journey.”
DNV GL works to certify companies’ processes, products, facilities and supply chains to national and international standards. When a certificate is issued, the data is digitalised, sent to the blockchain, and a digital identity is assigned to each certificate.
Fraudulent certificates can be uncovered through scanning a QR code that anyone in the blockchain can verify if the company is certified.
Renato Grottola, global digital transformation director at DNV GL, said using blockchain was the first step in building a new concept of digital assurance.
“Our objective is to use blockchain and other disruptive technologies to provide new services … continuing to create value for our customers.”
