Trade Organization ICC to support Blockchain Adoption for its 45 Million Member Businesses

Trade Organization ICC to support Blockchain Adoption for its 45 Million Member Businesses
Trade Organization ICC to support Blockchain Adoption for its 45 Million Member Businesses

Singapore blockchain startup Perlin is supporting the world's largest business organization, the International Chamber of Commerce (ICC), roll out the technologies, the business confirmed in a press release on April 12.

Announced Thursday, the 100-year-old International Chamber of Commerce (ICC) has partnered with Singapore-based blockchain startup Perlin to boost supply chain processes in member companies, which makes them traceable and transparent. The ICC will assist members spread across 130 countries to join with Perlin's blockchain platform and also gain in the use of this nascent technology.

Now a hundred years old, the ICC counts 45 million companies under its own wing, such as Amazon, CocaCola, FedEx, McDonald's, and PayPal.

John Denton, secretary general of the ICC, stated:

“In collaboration with Perlin, which leads the field in blockchain and distributed ledger development, we can help facilitate practical and truly disruptive transformation for businesses across every conceivable industry sector.”

The usage of blockchain-based technologies may encourage positive tumultuous changes for businesses of all sizes. Even though the technology is still in its early phases, there's a good deal of possibility of it could develop in the ideal method.

Also Read: Albertsons partners with IBM Food Trust Blockchain to track lettuce supply chain

Dorjee Sun, Perlin's CEO also stated in the press release,

“The Perlin team has always recognized that meaningful blockchain and distributed ledger tech adoption can only be achieved by building tools that are practical, scalable, cost-effective and add substantial value for businesses of all sizes. As the real-world pilots we’re already deploying show, the technology we’ve built meets each of these essential criteria head-on.”

Perlin is currently working on blockchain pilots with major companies, such as one with renewable materials manufacturer Asia Pacific Rayon (APR). The pilot, known as “Follow Our Fibre,” intends to give transparency to APR clients throughout the supply chain by letting them monitor crucial phases of production from planting to shipping.

The pilot provides”permanent info on a safe blockchain database” to make sure that APR is in compliance with applicable regulatory and industry-based standards and certificates, the company stated.

Also Read: StackOverflow research claims 80% of Organizations don’t use Blockchain

The Paris-based company and Perlin will also be working on additional jobs, including the ICC's Business Action to Stop Counterfeiting and Piracy (BASCAP) initiative — made to increase awareness of their”economic and societal injury” of counterfeiting and piracy.



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