nChain and Unisot Partner on Blockchain-Powered Supply Chain Platform

nChain and Unisot have partnered to improve supply chain traceability for all participants.

With this strategic partnership, Unisot’s supply chain traceability and sustainability platform will incorporate nChain’s blockchain technology, the companies said in a Thursday (Feb. 16) press release.

“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 enable us to continue building unmatched enterprise applications with the superior characteristics of the BSV blockchain — scalability, integrity, availability and efficiency, and most importantly for its stability,” Unisot CEO and Co-founder Stephan Nilsson said in the release.

Enhancing supply chain efficiency using blockchain and IoT technologies is one example of the digital transformation that is taking place in a wide range of industries — including manufacturing, retail, finance, healthcare and government — and among both small and medium-sized businesses (SMBs) and large corporations.

The announcement of nChain and Unisot partnership comes about two weeks after intelligence platform Craft raised $32 million to help companies track supplier networks.

Craft’s data platform lets supply chain, procurement and risk managers monitor suppliers.

“Increased focus on cybersecurity, ESG, legal compliance and geopolitics have all further highlighted the need for comprehensive and reliable intelligence on all tiers of the enterprise supply network,” Craft said in a Feb. 1 press release. “Increasingly, enterprises in both private and public sectors are seeking to predict and mitigate issues proactively rather than reactively, in addition to embedding continuous monitoring of suppliers into daily operations.”

Unisot’s Web3 platform enables all supply chain players to participate in the information flow, uses nano-transactions to monetize information and incentivize them to exchange it on the blockchain, and provides the end consumer with data about the products’ origin and provenance, environmental impact, quality and safety, according to the press release.

The platform is also designed to help companies meet the requirements of the Corporate Sustainability Due Diligence (CSDD) regulations proposed by the European Commission (EC), the release said.

“With Unisot, we are particularly proud of being able to provide the technology for a solution that allows full transparency of the supply chain as well as 360 global interoperability from the source to the recycling point,” nChain CEO Christen Ager-Hanssen said in the release.