Stahl, an active proponent of responsible chemistry, has taken an important step toward enabling end-to-end supply chain visibility by actively engaging with external partners on blockchain readiness and implementation. As a first stage, Stahl has collaborated with KRAHN Chemie, an independent chemical distributor, to certify key raw materials from the point of origin onward. In the coming months, Stahl will encourage more partners to scale up blockchain readiness across its network and beyond.
With end-consumers, leading brands and regulatory bodies increasingly concerned about the provenance, safety and environmental impact of manufactured goods, supply chain transparency is key to more effective risk management and clearer accountability. Among other solutions, blockchain technology enables the creation of immutable digital records that ensure traceability, authenticity, and data security across the chain of custody. The Aura Blockchain Consortium, for example, uses blockchain technology to allow consumers to access product history and proof of authenticity of luxury goods.
Following an internal pilot of Finboot’s blockchain-based traceability system, Stahl is now launching a proof of concept with external suppliers. Specifically, KRAHN Chemie has been integrated into the blockchain traceability environment. This step enables the traceability of key raw materials throughout the supply chain, from the point of origin to finished product. In the next 12 to 24 months, Stahl will work collaboratively with more suppliers and partners to drive blockchain maturity, activate more nodes in the network, and deliver greater supply chain transparency.
John Fletcher, Chief Innovation Officer Stahl: “The collaboration with KRAHN Chemie underlines our wider commitment to tackling the chemical industry’s lack of supply chain transparency. By adopting blockchain-based technology, enabled by Finboot’s MARCO platform, we can simplify and improve governance, due diligence, risk avoidance and supply chain visibility. Moving forward, I encourage more of our suppliers and partners to come forward and work with us: together, we can improve the quality of our products and shape a better world for more people.”
MARCO is an ecosystem which brings blockchain technology under one roof by connecting multiple ledgers simultaneously. It can also provide a bridge between different blockchain solutions in the same supply chain.
Juan Miguel Perez, CEO and Co-founder of Finboot said: “We are delighted to have supported Stahl on this groundbreaking pilot which is now being expanded into its supply chain. Forward-thinking and forward-acting companies like Stahl are securing a competitive edge, as well building trust in their supply chain through blockchain. We are pleased to play a role in accelerating Stahl’s digital transformation.”
Cristian Groenewegen, Managing Director KRAHN Chemie Benelux and Chief Sustainability Officer KRAHN Chemie Group: “At KRAHN Chemie, we highly value supply chain transparency and we are very pleased to collaborate with Stahl on this innovative approach. We are always euphoric to be part of such projects and would like to encourage our customers to discuss with us what can be realized in terms of sustainability and digital services.”
This post appeared first on Coatings World.