VeChain, a blockchain platform that helps make supply chain management simpler, has developed VeTrust to help small and medium-sized hotels in China gain immediate access to blockchain-as-a-service features. The risk self-assessment application has been developed in collaboration with DNV GL. Its main aim is to improve risk management in times of coronavirus.
VeTrust is an entry-level application for the hotels for affordably accessing blockchain services. It will make use of the hospital-grade MyCare methodology (developed by DNV GL) and track records to help the businesses manage COVID-19 risk factors, especially for the small and mid-scale hotels in China. The MyCare application has been combined with the Baas platform to help the companies assess the risk factors.
The availability of the application could not have come at a better time. The hospitality industry across the world is already reeling under a string of revenue losses, and the scenario in China is no different. The hotel industry in China has lost over USD 9.44 billion in revenue. The recovery of the industry is dependant on the restoration of the trust between the hotel industry and the customers.
Using the highly developed VeTrust application, the hotels will create a proof of cleanliness that cannot be altered under any circumstances and can be relied upon. The application will also help the staff monitor the preparation of meals and the housekeeping department. With VeTrust, a hotel can easily create a self-assessment checklist for risk management of infections.
The application will also provide a series of long-term benefits like online training materials and evaluation checklist that will help the hotels meet the consumers’ various concerns and meet the regulatory standards.
The effects of the COVID-19 pandemic has been very damaging as some of the hotels in China were closed down for almost a month or even more. The VeTrust application will seek to restore the hotel industry’s confidence and give a breathing space to the companies to assess specific processes.MyCare, the infection risk management tool, has helped the companies evaluate all parties’ risk factors. The tool is already being used by some of the world’s biggest hotel chains like ITC Hotels and the InterContinental.