The Japanese trading giant will implement blockchain tech for tracing the distribution of raw materials in a PoC.
One of largest Japanese trading companies has officially announced the start of a proof-of-concept (PoC) aimed to develop a blockchain traceability system, according to a press release published on Feb. 1.
Itochu Corporation, a general trading company and one of the five largest companies in Japan, is developing a blockchain traceability system that will allow buyers and sellers to record the date, time, location and other transaction details on blockchain through a smartphone app.
The PoC will use the Indonesian-based firm Pt. Aneka Bumi Pratama’s natural rubber supply chain, a company that processes and produces crumb rubber and is fully owned by Itochu Corporation.
Visualization of the blockchain-based rubber supply chain. Source: Itochu press release
The press release underlines that the…
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