Major Japanese trading company Marubeni has partnered with startup Circularise to use blockchain to track shipments of chemicals and plastics.
Plastic is a serious environmental problem as it decomposes for hundreds of years and contains various carcinogenic and toxic chemicals, including antimony trioxide, phthalates, mercury, bisphenol, cadmium, and so on.
Marubeni has partnered with Dutch startup Circularise to use blockchain to track supply chains. The blockchain will allow tracking the supply of chemicals, but at the same time maintaining the necessary level of privacy for the participants in the supply.
First, the system will be tested among Marubeni’s Japanese customers and, if the pilot program is successful, international partners will be connected to it. Terumasa Watanabe, COO and Head of Plastic Supply, Marubeni, said:
“Blockchain will provide transparency and make decision making much easier, especially when it comes to the supply of raw chemicals.”
Recall that at the beginning of 2019, Marubeni entered into a partnership agreement with the American startup LO3 Energy on the use of blockchain to develop its energy sector.
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