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Cardano (ADA) founding member and a global blockchain solutions provider, EMURGO today joined the Trace Alliance to leverage distributed ledger technology (DLT) in the supply chain management (SCM) space. This, according to a press release issued on June 25, 2020.
EMURGO to Develop Tailored DLT Solutions for Enterprises
EMURGO, a Singapore-based DLT solutions provider and a founding member of the Cardano protocol joined forces with Trace Alliance – a group that aims to connect technology solution providers, enterprises, startups, and academia with SCM professionals to help them develop and implement blockchain solutions across supply chain verticals.
Notably, this partnership comes shortly after EMURGO unveiled its enterprise-geared DLT solution dubbed EMURGO Traceability Solution that promises trustful, secure, and cost-efficient product traceability.
The collaboration linking EMURGO and the Trace Alliance seeks to establish smooth channels of interaction between the former’s tailored supply chain-focused solutions and Trace Alliance members, while simultaneously gauging the potential for the wider adoption of Cardano’s research-driven blockchain.
For the uninitiated, the Trace Alliance is a European Union-based non-profit association comprising several reputable large & medium enterprises, service providers, and research institutions. Existing members of the Trace Alliance include Deloitte, EVRYTHNG, TMA Solutions, Gijima, and more than 100 other enterprises and service providers.
According to a survey of 230 global business executives conducted by EY in 2019, close to 75% of the respondents stated that their enterprises were either planning to implement DLT-based solutions or had already done so.
Blockchain for Data Integrity
In recent times, an increasing number of business juggernauts have embraced DLT for myriad different benefits, including being able to offer better services to customers, and better data protection, among others.
EMURGO’s partnership with the Trace Alliance is a step toward delivering robust supply chain blockchain solutions to fellow alliance members to tackle the existing bottlenecks in SCM.
Commenting on the development, Ken Kodama, CEO, EMURGO, said:
“As traditional industries increasingly progress towards integrating blockchain solutions, joining Trace Alliance is mutually beneficial for both EMURGO and Alliance members to actively collaborate on ways to further drive blockchain adoption. EMURGO highly looks forward to the continued development of blockchain technology for supply chains and to add value to enterprises via our tailored solutions.”
Similar sentiments were echoed by Ana Bevc, Secretary-General, Trace Alliance. She noted that the collaboration would establish trust and accountability among the parties involved, laying the foundation for better data integrity in global supply chains.