on the crypto
Stahl, an active advocate of responsible chemistry, has taken important steps to enable end-to-end supply chain visibility by engaging with external partners on blockchain availability and implementation.
As a first step, Stahl partnered with Krahn Chemie, an independent chemical distributor, to certify key raw materials from point of origin onwards. In the coming months, Stahl will encourage more partners to increase blockchain availability across its network.
What blockchain technology will allow to do
According to the company, with end consumers, leading brands and regulatory bodies increasingly concerned about the provenance, safety and environmental impact of manufactured goods, supply chain transparency is the key to more risk management. effective and clearer accountability. Among other solutions, blockchain technology allows the creation of immutable digital records that guarantee traceability, authenticity and security of data along the entire chain of custody.
Following an internal pilot program of Finboot's blockchain-based traceability system, Stahl is now launching a proof of concept with external suppliers. Specifically, Krahn Chemie was 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 the finished product. Over the next 12-24 months, Stahl will work collaboratively with multiple vendors and partners to promote blockchain maturity, activate more nodes in the network, and provide greater supply chain transparency.
The words of John Fletcher of Stahl
“The collaboration with Krahn Chemie underscores our broader commitment to addressing the lack of transparency of the chemical industry supply chain. By adopting blockchain-based technology, enabled by Finboot's Marco platform, we can simplify and improve governance, due diligence, risk prevention 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, ”said John Fletcher, Stahl's chief innovation officer, in a press release.
Marco is an ecosystem that brings blockchain technology under one roof by connecting multiple ledgers at the same time. It can also provide a bridge between different blockchain solutions in the same supply chain.
Juan Miguel Perez of Finboot and Cristian Groenewegen of Krahn Chemie
“We are delighted to have supported Stahl in this innovative pilot project which is now being extended to its supply chain. Forward-thinking and forward-thinking companies like Stahl are securing a competitive advantage, as well as building trust in their supply chain through blockchain. We are delighted to play a role in accelerating Stahl's digital transformation, ”said Juan Miguel Perez, CEO and co-founder of Finboot.
“At Krahn Chemie, we highly value the transparency of the supply chain and are very pleased to partner with Stahl on this innovative approach. We are always elated to be part of such projects and would like to encourage our clients to discuss with us what can be achieved in terms of sustainability and digital services ”, Cristian Groenewegen, managing director Krahn Chemie Benelux and director of sustainability at Krahn Chemie Group he said in the release.
