Glossário

My Story (VeChain)

A digital assurance system built on a blockchain by DNV and VeChain.

What Is My Story (VeChain)?

My Story is a cost-effective solution to combat the $50 billion counterfeit luxury goods industry. My Story™️ empowers consumers to ascertain the authenticity of their purchases by tapping NFC-enabled smartphones on an RFID tag or scanning a QR code on a hangtag. This will take them to a landing page that contains all information about the item, including its journey from production to point of sale.

Brands opting for My Story register verifiable facts about products, which are stored on the VeChain blockchain. Customers can confirm these facts simply by scanning the QR code. 

The product data that’s registered include the quality, origin, authenticity, animal & worker welfare, and environmental footprint.

DNV GL audit the data before adding it to the immutable blockchain. With the help of My Story, brands can present their behind-the-scene actions as a story to share with customers.  

My Story provides brands with a unique identifier for each physical item. Product information, such as photos, manufacturing date, and original retail store, is linked to each identifier and stored in an immutable and transparent manner on the VeChainThor Blockchain. My Story provides brands with an enhanced customer relationship management platform through which they can learn more about their customers' purchasing habits, such as items purchased and purchase frequency. Brands can use this data to gather valuable insight into consumer behavior and use this information to tailor marketing campaigns based on individual preferences.

VeChain is a blockchain-based supply chain management platform, and it is aiming to eradicate the issues of trust that so often arise in industrial supply chains. The platform is built on top of the blockchain technology that powers Bitcoin, Ethereum, and other cryptocurrencies—but instead of being used for money transactions and purchases, VeChain is designed to be used for the tracking and management of products throughout their entire lifetime. It essentially acts as a digital ledger that tracks all the stages by which a product moves from where it's produced through all its different states until it reaches its final destination—and so only people with access to the correct tools can read this information at any one point in time. It's designed to prevent counterfeit products from entering the supply chain, allowing for items to be traced back to their original factories.

The use of blockchain technology isn't new or anything outside of normal business practice—but because blockchain can't be manipulated by anyone, it takes away the chance of human error on any level and opens up much greater possibilities for transparency in business practices. For instance, when grocery items need to be recalled, they're noted as such on this platform and only people with access to those records can find out about them. This reduces costs associated with lost sales and wasted food—and increases the efficiency of stores bringing in new products.