UNISOT partners with nChain to scale blockchain supply chain services bigger, faster
Supply chain track and trace firm UNISOT is looking to boost the development of new services and scale its business globally, thanks to a new strategic partnership agreement with blockchain research and development leaders nChain.
The partnership, which includes nChain taking a strategic stake in UNISOT, will provide access to the latest innovations in blockchain technology and allow the company to build its worldwide network much faster than before.
UNISOT uses the Bitcoin SV (BSV) blockchain with an interconnected network of user and enterprise applications, IoT sensors and other information gathering mechanisms to trace the origin of goods at all supply chain stages from origin to end user.
The company has designed its services to comply with new European Commission regulations regarding product transparency under Corporate Sustainability Due Diligence (CSDD), which also include Ecodesign for Sustainable Products Regulation (ESPR) and Digital Product Passport (DPP).
I am pleased to announce that nChain also acquired a strategic stake in Unisot in addition to the announcement below. nChain and Unisot in strategic partnership to increase supply chain traceability
— Christen Ager-Hanssen (@agerhanssen) 16 February 2023
UNISOT CEO Stephan Nilsson praised nChain’s work in blockchain development and the benefits of building applications on BSV:
“nChain is the preferred partner for us for several reasons. First and foremost for their unparalleled expertise, experience and dedication to R&D around public blockchain technology. This will give us the resources we need to excel and scale up globally, as well as have access to the core blockchain technologies that will enable us to continue building outstanding enterprise applications with the superior capabilities of BSV Blockchain, Scalability, Integrity, Availability and Efficiency , and most importantly for stability. Enables us to multiply adoption in less time.”
The EU adopted its proposal for a directive on companies’ sustainable due diligence rules on 23 February. The commission said they would benefit citizens with better protection of health, human rights and the environment by increasing transparency and helping them make more informed choices.
It also creates a harmonized legal framework for companies operating in the EU, providing better risk management and awareness of the impact of business activity. The rules will focus on innovation and provide better access to finance by reaching talented and “sustainability-oriented” investors.
Regardless of the ultimate benefits, all new regulations come with additional costs and responsibilities for businesses that follow them. Services like UNISOT aim to reduce both of these headaches by streamlining and automating many of the processes involved.
Tracing product lines from their origin, including the primary source materials and ingredients that go into them, would be a huge task if done manually. UNISOT’s network allows all participants along a supply chain to record and verify provenance details all the way to the end consumer, who can scan label codes to verify all information. Such a process is only possible with blockchain technology, which records and time stamps all data in a way that can still be audited years into the future. This scale is only achievable with the BSV blockchain, as it requires tokenization and unlimited scale, with transaction costs kept to an absolute minimum.
nChain CEO Christen Ager-Hanssen said the deal will help UNISOT scale and implement its unique Web3 solution across all product lines within a few years.
“Our blockchain technology is revolutionizing many areas of everyday life. With UNISOT, we are particularly proud to be able to offer the technology for a solution that allows full transparency in the supply chain as well as 360 global interoperability from the source to the recycling point.”
Ager-Hanssen also hinted that nChain would announce more deals and strategic partnerships in the coming weeks, following the UNISOT deal and the company’s 51% acquisition of Block Dojo. He described nChain as having a “blind focus” on developing new client solutions and promised to “transform the world from Web2 to Web3.”
At Dojo, we talk to our startups about strategic partnerships to accelerate growth. This is us leading by example. Some brainer on both sides of the table. The vision (and execution!) of @agerhanssen is amazing. Big things are happening right now!
— James Marchant (@JamesRMarchant) 16 February 2023
See: nChain VIP Club Private Event Highlights Showing Data Integrity as a Service
width=”562″ height=”315″ frameborder=”0″ allowfullscreen=”allowfullscreen”>
New to Bitcoin? Check out CoinGeeks Bitcoin for beginners section, the ultimate resource guide for learning more about Bitcoin – originally envisioned by Satoshi Nakamoto – and blockchain.
