Stahl launches blockchain-based collaborations to improve supply chain transparency

YarnsandFibers News Bureau 2021-06-04 10:14:27 – Netherlands

Stahl, a Netherlands-based chemical company that develops specialty coatings technologies, which, has taken a significant step in allowing end-to-end supply chain visibility by aggressively engaging with external partners on blockchain preparation and deployment.

Stahl has partnered with KRAHN Chemie, an independent chemical distributor, to certify essential raw materials from the place of origin onwards as a first step. Stahl will push additional partners to grow up blockchain ready across its network and beyond in the coming months.

Supply chain transparency is critical for more effective risk management and clearer responsibility, as end-consumers, major brands, and regulatory agencies become increasingly concerned about the origins, safety, and environmental impact of produced goods. Blockchain technology, among other things, allows for the production of immutable digital that ensures traceability, authenticity, and data security across the chain of custody.

Stahl is developing a proof of concept with external suppliers following an internal test of Finboot's blockchain-based traceability system. Specifically, KRAHN Chemie has been incorporated into the blockchain traceability environment. This stage allows for the traceability of critical raw materials from point of origin to the completed products along the supply chain.

Stahl will collaborate with additional suppliers and partners over the next 12 to 24 months to develop blockchain maturity, activate more nodes in the network, and offer better results.

Stahl’s Chief Innovation Officer, John Fletcher, said their partnership with KRAHN Chemie is part of a larger effort to address the chemical industry's lack of supply chain transparency. They can simplify and increase governance, due diligence, risk avoidance, and supply chain visibility by implementing blockchain-based technology, which is facilitated by Finboot's MARCO platform. As they move forward, he invites more of their suppliers and partners to join them in their efforts to enhance the quality of their goods and design a better world for more people.

MARCO is a blockchain ecosystem that connects numerous ledgers at the same time to put blockchain technologies under one roof. It can also act as a link between various blockchain technologies used in the same supply chain.

Managing Director KRAHN Chemie Benelux and Chief Sustainability Officer KRAHN Chemie Group, Cristian Groenewegen, said they value supply chain openness at KRAHN Chemie, and they're excited to work with Stahl on this new approach. They are always ecstatic to be a part of such projects, and they urge their clients to talk to them about what they can achieve in terms of sustainability and digital services.

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