A Netherlands-based consortium exploring logistics and supply chain technology will begin to look at blockchain in its efforts, reports said Friday (Dec. 30).
The consortium, headed by TKI Dinalog, is made up of 16 companies that will consider blockchain in ways to improve supply chain logistics and reduce supply chain footprints, according to reports. The members said they have set a goal to develop three use cases for blockchain in this area, including supply chain financing and circular economics.
The member companies have invested $2.3 million in the effort, reports said, adding that the consortium marks the first time businesses have collaborated to develop blockchain-based logistics and supply chain solutions in a venture this large.
“If you ask me, using blockchain technology for the financial routes in logistics is just the beginning,” said the group’s supply chain finance program manager, Martijn Siebrand. “I see this as a stepping stone towards a logistics sector with improved collaboration throughout the entire chain.”
“This project is not about discussing potential,” said Johan Pouwelse, project manager and associate professor at TU Delft, a member of the consortium. “We are actually going to put words into action.”
The launch of this blockchain consortium follows just days after reports announced that two other blockchain consortia saw their membership numbers increase. Eight companies have joined Hyperledger Project, which has a global reach, while Fukui Bank has become the newest member of SBI Holdings’ blockchain consortium exploring the use of distributed ledger for foreign exchange services.