In January, the Government of Canada contracted blockchain firms Peer Ledger and Mavennet to develop a solution for enabling steel traceability. The goal is to increase industry efficiency, ensure responsible sourcing, and verify requirements within the country.
Halifax-basedPeer LEDGER and Toronto-based Mavennet System will each receiveC$150,000 ($109,735) through Innovative Solution Canada, a governmentinitiative to fund research and development of Canadian smallbusiness.
Thetwo companies will work on a proof-of-concept (PoC) for digitaltraceability in the steel supply chain by using blockchain andartificial intelligence (AI). While the initial focus is on Canadiansteel, the project will also explore the North American steel supplychain. Based on the results of the PoC, one of the two companies willreceive up to $1 million over the two years to refine its prototype.
“Withthis challenge, we’re looking for a tool to better trace the steelsupply chain and provide information on product supply and demand,instant verification of origin, and quality of inputs and outputs,”said Navdeep Bains, Minister of Innovation, Science and Industry.
Inlate 2018, the Government of Canada had published a solicitation forusing blockchain and AI for tracing the steel industry supply chain.The two companies were contracted based on this.
Foundedin 2016, Peer Ledger has developed the blockchain-based MIMOSI SaaSplatform for responsible sourcing. The platform focuses on tracingthe supply of gold and other metals to reduce safety risks, improveenvironmental compliance, and protect human rights. It has alsoworked with pharmaceutical companies to provide blockchain-enabledidentity and access management to protect intellectual property.
Meanwhile,Mavennet’s solution is based on the AION blockchain and offersvarious enterprise solutions. The company’swebsite says ithas previously worked with the Hong Kong Monetary Authority,Deloitte, Vodafone, Moog and the Toronto Stock Exchange.
Afew months ago, Ledger Insights reported on the U.S.Department of Homeland Security (DHS)contract withMavennet to develop a blockchain solution for oil imports fromCanada.
Canadianfirm Minehub haslaunched a blockchain supply chain platform for the metals and miningindustry. Minehub developed the platform in collaboration with IBMand mining participants such as ING, Wheaton Precious Metals, OceanPartners and Capstone Mining, among others.
The WorldEconomic Forum (WEF)formed a blockchain consortium with Glencore, Tata Steel, De Beers,and a few others for transparency in the metals and mining supplychain.
