According to recent reports, the Food Safety and Inspection Service (FSIS), an agency of the U.S. Department of Agriculture, is working with a major global technology firm to build a proof-of-concept blockchain solution, FSIS's first, designed to bring increased immutability of documentation and streamline the process for export certifications of America's meat, poultry and eggs. In another recently announced pilot, as part of its 20-year plan to create a carbon-neutral passenger car fleet, a global automobile manufacturer announced a new blockchain pilot project with Circulator – a startup focused on blockchain technology – and one of its key battery cell manufacturers. The project is targeted at tracking emissions of climate-relevant gases and mapping the use of recycled material through the battery cell manufacturing chain.
Earlier this week, several key partners in the aircraft maintenance, repair and overhaul (MRO) industry announced the creation of the MRO Blockchain Alliance, along with a proof-of-concept blockchain solution to verify the authenticity of aircraft parts and provide visibility into the full chain of custody, with blockchain technologies estimated to generate $3.5 billion in costs savings (approximately 5 percent) and a $40 billion boost in revenue. Also this week, the Perth Mint, in partnership with Security Matters, a technology startup focused on physical asset tracking through digital means, announced the development of an ethical gold supply chain assurance solution as part of its TrueGold project. TrueGold is aimed at reporting on the origin of gold and how the metal moves through the entire production and distribution process.
Last week, Hyperledger marked the fourth anniversary of its enterprise digital ledger, Hyperledger Fabric, by announcing the release of Hyperledger Fabric v2.0, which offers improved decentralized consensus models and heightened data privacy offerings, among other performance improvements. Illustrating the potential benefits to enterprise-blockchain adoption, a leading research and advisory firm recently predicted that organizations participating in blockchain smart contracts could realize a 50 percent increase in data quality by 2023 while noting the downside that the same technology could lead to a 30 percent decrease in data availability.
For more information, please refer to the following links:
- US Food Inspectors to Test IBM Blockchain for Export Certifications
- Mercedes-Benz Cars drives "Ambition2039" in the supply chain: blockchain pilot project provides transparency on CO2 emissions
- Blockchain aircraft maintenance alliance to explore the technology's $3.5bn potential
- Perth Mint enlists SMX for blockchain-based ethical gold supply chain solution
- Welcome Hyperledger Fabric 2.0: Enterprise DLT for Production
- Gartner Research: Smart Contract Adoption to Increase Data Quality by 50% Over 3 Years
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