Mercedes-Benz, the German-based automobile car has introduced a platform based on Blockchain technology in order to raise transparency as well as sustainability in complex supply chains, as per the latest report released on February 25. Mercedes Benz, a division of Daimler AG, a German automobile company has made a partnership with United-States based software company Icertis for the cooperation to increase the Blockchain technology for supply chain use. The automobile company has made an announcement that they have combined developed and programmed a prototype with Icertis, which is entirely based on Blockchain technology that permits the storage of documentation as well as contracts in supply chains.
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The project aims to create a transparent as well as sustainable mapping of sorted documents around the entire supply chain. The parties have reached the testing phase of the pilot project. One of the members of the divisional board of Management Mercedes Benz, Wilko Stark, stated that the role of Blockchain technology could affect almost the entire value chain.
On the other hand, Porsche AG, another German-based automobile manufacturer are also ready to increase and put investments in Blockchain-related startups to get the right of entry to trends, new technologies, and business models. At the beginning of the February, the largest trading Company in Japan, Itochu Corporation, officially made an announcement to start the proof-of-concept targeting at developing a Blockchain-backed traceability system that would allow buyers and sellers to testimony transaction details about supply chain via the means of Smartphone app.
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