25 Sep 2018 Arjun Agarwal
Blockchain Application to Improve Transparency in Spain’s Forest Industry
Chainwood is a group that brings together eight partners in the venture from different Spanish regions, including Galicia, Madrid, Andalusia, Castile, and Leon. The group’s task is to implement the technology to make the delivery of wood easier, reduce costs and track shipments more efficiently.
The assembly was created thanks to the secured funding from the Ministry of Agriculture, Fisheries and Food with a grant of € 93,530.
The organization is currently drafting a comprehensive plan for the project and will be more involved in its funding in the future. In order to deliver the most suitable solution to address the relevant issues, the partners are representatives of forestry associations, ICT companies, and Risutec – a Finnish company that specializes in forestry machines.
One of Chainwoods‘ main goals is to improve the supply of wood materials in Spain by modernizing and refining the procedure. Upon completion of the blockchain software, test runs will be carried out in Castile, Leon, Asturias, and Galicia.
Work meetings for the project have already taken place in Santiago de Compostela and Madrid. The most important goal of the project is to improve the transparency of the entire process through blockchain and machine learning.
The benefits of the software will be great for both manufacturers and buyers. They will receive the best offers, a guarantee of the quality and condition of the products and an improved price.
Logistics companies, for example, will have the opportunity to optimize their services and expand their market. And the control authorities will reduce the costs needed to check in the procedures.
Most importantly, through the decentralized nature of blockchain technology, the trust of the participants will increase.
In July, the Catalonian Government started a plan to promote the use of blockchain. The goal is to improve the digital services offered to the public.Blockchain Spain Finland Funding