Supply chain “track and trace” firm UNISOT is looking to ramp up the development of new services and scale its operations globally, thanks to a new strategic partnership deal with blockchain research and development leaders nChain.
The partnership, which includes nChain taking a strategic stake in UNISOT, will provide access to the latest innovations in blockchain technology and allow the company to build its worldwide network much faster than before.
UNISOT uses the Bitcoin SV (BSV) blockchain with an interconnected network of user and enterprise applications, IoT sensors, and other information-gathering mechanisms to trace the provenance of goods at all supply chain stages from origin to end-user.
The company has designed its services to follow new European Commission regulations concerning product transparency under Corporate Sustainability Due Diligence (CSDD), which also include Ecodesign for Sustainable Products Regulation (ESPR) and the Digital Product Passport (DPP).
I’m happy to announce that nChain also acquired a strategic stake in Unisot in addition to the announcement below. nChain and Unisot in Strategic Partnership to boost Supply Chain Traceability https://t.co/j2YteDss5p
— Christen Ager-Hanssen (@agerhanssen) February 16, 2023
UNISOT CEO Stephan Nilsson praised nChain’s work in blockchain development and the benefits of building applications on BSV:
“nChain is the partner of choice for us for several reasons. First and foremost, for their unprecedented expertise, experience, and dedication to R&D around public blockchain technology. 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. Enabling us to increase adoption manyfold in a shorter period of time.”
The EC adopted its proposal for a Directive on Corporate Sustainability Due Diligence rules on February 23. The Commission said they would benefit citizens with better protections for health, human rights, and the environment by increasing transparency and helping them to make more informed choices.
It also creates a harmonized legal framework for companies operating in the European Union, allowing for better risk management and awareness of business activity impact. The rules will focus on innovation and allow for better finance access through outreach to talented and “sustainability-oriented” investors.
Whatever the ultimate benefits, all new regulations come with added costs and responsibility for businesses following them. Services like UNISOT aim to reduce both of these headaches by streamlining and automating many of the processes involved.
Tracing product lines from the origin, including the primary source materials and ingredients that go into them, would be a massive undertaking if performed manually. UNISOT’s network allows all participants along a supply chain to record and confirm details of provenance right through to the end consumer, who can scan label codes to check all information. Such a process is only possible with blockchain technology, which records and timestamps all data in a way that can still be audited years into the future. This scale is only achievable with the BSV blockchain, as it requires tokenization and unlimited scale, with transaction costs kept to an absolute minimum.
nChain CEO Christen Ager-Hanssen said the deal would help UNISOT to scale and implement its unique Web3 solution across all product lines within a few years.
“Our blockchain technology is revolutionizing many areas of everyday life. 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.”
Ager-Hanssen also hinted nChain would be announcing several more deals and strategic partnerships in the coming weeks, following the UNISOT deal and his company’s 51% acquisition of Block Dojo. He described nChain as having a “blind focus” on developing new client solutions and promised to “transform the world from Web2 to Web3.”
At the Dojo we talk to our startups about strategic partnerships to accelerate growth. This is us leading by example. A no brainer on both sides of the table. The vision (and execution!) by @agerhanssen is stunning. Big things are happening right now! https://t.co/Okyh1ISxiu
— James Marchant (@JamesRMarchant) February 16, 2023
Watch: nChain VIP Club Private Event highlights showcasing data integrity as a service
width=”562″ height=”315″ frameborder=”0″ allowfullscreen=”allowfullscreen”>
New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.
