SHANGHAI, Dec. 23, 2020 /PRNewswire/ -- TÜV Saarland Certification (hereafter referred to as "TÜV Saarland") has issued VeChain with the world's first 5-Star-Rated Blockchain Service Certificate. Their certification acknowledges the readiness and maturity of VeChain's blockchain technology, raising the profile and prestige of the network and certifying it as one of the preeminent front runners in the enterprise-level blockchain space.
As a renowned European certification body, TÜV Saarland is accredited by DAkkS, the national accreditation body for the Federal Republic of Germany. TÜV Saarland's blockchain service certification methodology is based on established blockchain service evaluation standards and industry-leading expertise and experience within TÜV Saarland. This evaluation model and system is held in such high regard that their blockchain certification model has been authorized for use by the Certification and Accreditation Administration of the People's Republic of China (CNCA) in China.
The methodology applied by TÜV Saarland Shanghai included conducting strict audits around the blockchain-based services provided by VeChain, assessing elements such as technical scalability, network reliability and practicality of application. In response to the strict requirements set forth by the body, VeChain had to demonstrate its regulatory abidance across jurisdictions and provide detailed reporting for TÜV Saarland, providing a detailed insight in to its blockchain services, including industrial blockchain applications, technical documents, business development plans, delivery of technological services, acceptance records and more.
With technical strength and market-proven blockchain use cases, VeChain has been certified as the first approved 5-Star Blockchain Service Provider under TÜV Saar's notation.
This certification uniquely positions VeChain's blockchain technology in the enterprise and business world. In an industry where enterprises are hesitant to adopt emerging technologies, this certification would leapfrog our competitive advantage compared to other blockchain platforms. Ultimately, as we gather more recognition and trust, the VeChain ecosystem will thrive and lead to more usage and partnerships, directly contributing to the value creation of our blockchain ecosystem.
Thorsten Greiner, Managing Director of TÜV Saarland, said: "TÜV Saarland has an extremely professional certification team, with not only a deep understanding of blockchain technology, but also rich field experience. TÜV Saarland's certification standard aims to set an industry-level reference benchmark and help blockchain service providers improve their competitiveness in the international market. As the first company to receive the five-star service certification, VeChain has demonstrated its advantages and has the potential to bridge more large-scale enterprise digital systems or government projects."
Sunny Lu, co-founder and CEO of VeChain, said, "Our strategic partners, PwC and DNV GL, have been offering professional compliance guidance for us to iterate blockchain technology and develop industrial blockchain applications for enterprise users. We are honoured to be granted this certificate and will be looking for ways to further improve our services in the business world. Faced with the impact of COVID-19, many decision makers are seeking new business recovery capabilities and growth points, which can be effectively assisted by VeChain's blockchain services."
About TÜV Saarland Certification
TÜV Saarland is an internationally renowned organization, founded in 1871 in Germany. It´s Certification Body is accredited by DAkkS, the national accreditation body for the Federal Republic of Germany, according to ISO 17021 and ISO 17065. Additionally, it is one of only about 40 bodies worldwide that is allowed to certify the IATF 16949 automotive standard. The IATF certification is monitored by the Quality Management Centre of the German Automotive Industry Association (VDA-QMC).
Launched in 2015, VeChain Technology is a global leading enterprise-friendly blockchain company which aims to connect blockchain technology to the real world by providing enterprises with blockchain-enabled solutions suited to their business needs.
It offers VeChain ToolChain™, a low-code blockchain-based SaaS platform that allows enterprise clients to rapidly build and drive digital transformation on a global scale, enabling the evolution of a trust-free and a distributed ecosystem.
VeChain Technology is a pioneer of real-world blockchain applications, with international offices in China, Singapore, Luxembourg, Japan, France, Italy and the United States. With strong independent development capabilities, combined with the professional compliance guidance of our strategic partners, PwC and DNV GL, VeChain has established partnerships with many leading enterprises in various industries, including Walmart China, Bayer China, BMW Group, BYD Auto, PICC, H&M Group, Shanghai Gas, LVMH, D.I.G, ASI Group etc.