Global Consultant DNV Invests in Blockchain Startup VeChain

Luca Crisciotti, chief executive of DNV, told CoinDesk that the investment is one of several aimed at improving its existing processes - in this case, using VeChain's network to become more efficient, he said.

Additionally, the two firms will build a supply chain product for DNV clients using VeChain technology.

"We are able to provide with VeChain a solution that balances safety and [speed]," Crisciotti explained, adding: "Our mission is the ability to make sure that product is reaching the shelves, that it's ultimately reaching the consumer ... What we are providing to our customers is commitment."

Crisciotti cited VeChain's speed as a reason for picking the startup, explaining: "We needed a quick blockchain. With VeChain, we can do that."