DNV GL and Authentic Vision expand and strengthen partnership
Builds on 2019 agreement to collaborate on blockchain-enabled service offerings for product traceability, anti-counterfeit and digital assurance
DNV GL originally partnered with Authentic Vision in 2019 to enhance its digital assurance solutions for key industries such as food & beverage, fashion & garments and automotive. The collaboration was considered essential to address the significant rise in counterfeit activities and the growing need for innovative product security solutions such as:
- ability to track and trace products throughout their life-cycle
- enhance supply chain transparency all the way to the consumer
- increase trustworthiness in a product’s authenticity and its sustainable, social, and regulatory performance (ESG)
Under the updated agreement, the two companies will expand common market activities like the webinar they conducted on the automotive industry. Details on future activities will follow so stay tuned for developments. The companies will focus on joint offerings adding value for clients in a number of industries, from Fast Moving Consumer Goods (FMCG) to Electronics and Automotive Sectors. The combination of digitally assuring quality and ESG performance of products and services throughout their lifecycle with a strong authentication mechanism will provide unparalleled certainty and trust to all actors in the value chain – including consumers.
The companies will achieve this by linking Authentic Vision’s patented holographic fingerprint tag with DNV GL’s modular digital assurance solutions including industry grade, proven Blockchain technologies. This strong joint offering brings trust and transparency along complex supply chains to the next level. It protects companies from losing revenues to counterfeiting while assuring customers and consumers of the products’ qualities and authenticity.
Florian Müller, Global Product & Business Development Director, DNV GL, and Thomas Weiss, CEO/Founder, Authentic Vision, explained why the timing was critical to renew the partnership: “The negative impacts of counterfeiting and piracy are projected to drain US$4.2 trillion from the global economy and put 5.4 million legitimate jobs at risk. Companies now more than ever need to take action to protect their product and brand integrity from fraud that is rampant throughout the world. Our collaboration takes a modular, flexible and industry-specific approach. It integrates Authentic Vision’s secure authentication technology into DNV GL’s suite of supply chain assurance solutions to provide companies with protection from threats. The resulting traceability/track & trace systems and authentication create the ultimate in product security – a product passport.”1