The International Chamber of Commerce (ICC) has announced they will be making blockchain technology available to all 45 million members, including Amazon, Coca Cola, Fedex, McDonald’s, and PayPal.
// STAY UP TO DATE – FOLLOW BLOCKCHAIN DAILY ON TWITTER: @BLCKCHAINDAILY
The 100-year-old organization is partnering with Singapore-based blockchain startup Perlin to develop supply chain management, allowing for more traceability and transparency.
“In collaboration with Perlin, which leads the field in blockchain and distributed ledger development, we can help facilitate practical and truly disruptive transformation for businesses across every conceivable industry sector,” said John Denton, secretary general of the ICC.
Perlin is already building blockchain-based traceability pilots for major regional businesses such as Asia Pacific Rayon (APR), the first fully-integrated viscose rayon producer in Asia producing viscose-rayon fibre with its raw material coming from its renewable plantations.
This will provide transparent and permanent data on a secure blockchain database that APR is in compliance with relevant regulatory and industry-based standards and certifications.
Using Perlin’s solution, APR will be able to showcase the extensive work it has done to create and maintain a rigorous framework of sustainable practices.
Both the ICC and Perlin believes that the adoption of blockchain-based technology is better positioned now than ever before to support positive disruptive changes for both large-scale enterprises like APR and small-to-medium businesses with significantly smaller budgets.
While still a largely nascent technology, the momentum for realising the compelling untapped potential of blockchain through greater adoption is now being accelerated by industry leading organizations like the ICC, large-scale traditional businesses like APR, and pioneers in the field like Perlin.
“The Perlin team has always recognised that meaningful blockchain and distributed ledger tech adoption can only be achieved by building tools that are practical, scalable, cost-effective and add substantial value for businesses of all sizes” shared Dorjee Sun, CEO of Perlin.
“As the real-world pilots we’re already deploying show, the technology we’ve built meets each of these essential criteria head on.”
In addition to the blockchain partnership, the ICC and Perlin are working together to advance regional initiatives positioning Singapore as a hub for industry innovation and excellence.
The commodities trading industry, digital innovation in value chains, and the ICC’s Business Action to Stop Counterfeiting and Piracy (BASCAP) Initiative will be of particular focus.