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EMURGO to join Trace Alliance to provide enterprise with supply chain solutions

EMURGO to join Trace Alliance to provide enterprise with supply chain solutions

The Trace Alliance is a collaborative group connecting technology solutions providers, enterprises, and other organizations with supply chain professionals to develop blockchain solutions & integrations with supply chain verticals.

EMURGO is a company charged with helping encourage enterprises and larger organizations to adopt Cardano’s (ADA) technology. The firm is also a founding member of the Cardano protocol.

Cardano was founded in 2017 by Charles Hoskinson and Jeremy Wood. Hoskinson is also a co-founder of Ethereum (ETH) and briefly served as CEO for a planned for-profit entity for the Ethereum project.

Cardano is a proof-of-stake blockchain, which enables holders of the ADA token to operate the network and vote on changes. Cardano differs from the other proof-of-stake projects by emphasizing a research-driven approach to design, aiming to achieve an academic rigor it believes will propel the adoption of its technology.

Cardona is maintained by three separate and independent organizations, The Cardano Foundation, IOHK, and EMURGO. The Cardano Foundation is a non-profit organization based in Switzerland and is responsible for supervising and overseeing the development of the Cardano blockchain. IOHK is a company co-founded by Hoskinson and Wood which built Cardano and designed Ouroboros, the proof-of-stake algorithm Cardano uses.

Cardano conducted an initial coin offering (ICO) between September 2015 and January 2017. The ICO took place in four stages and oversaw a total sale of approximately 26B of the 45B total supply of ADA tokens. At the conclusion of the ICO US$63M was raised.

The ICO was managed and conducted by a Japanese firm which resulted in 95% of buyers of the ADA token during the ICO being Japanese.

On the 31st of March 2020, EMURGO announced the launch of the “EMURGO Traceability Solution: an enterprise solution leveraging blockchain technology to modernize existing supply chain traceability standards, and bring added value to supply chain stakeholders & end consumers.”

This product was the first blockchain-based enterprise solution that was developed by the EMURGO Enterprise unit. Alongside the announcement of the traceability solution, EMURGO also announced that the first commercial enterprise that will use it is Blue Korintji Coffee, an Indonesian coffee brand. Blue Korintji Coffee will integrate the EMURGO Traceability Solution in its coffee supply chain to benefit all stakeholders including farmers and consumers.

The tailored solution will leverage Cardano’s research-driven blockchain technology to increase the visibility of purchasing prices between stakeholders and assure the immutability of accumulated private information.

Blue Korintji Coffee is also committed to giving back to farmers by pooling a portion of sales revenue and investing in production sustainability. Coffee consumers will also be able to simply scan a QR code displayed in the coffee shop to access this information about the origin of their coffee.

“EMURGO Traceability Solution is a breakthrough enterprise application providing a real solution to tackle inefficiencies in today’s supply chain industries”, stated Ken Kodama, the EMURGO CEO.

EMURGO to join Trace Alliance to provide enterprise with supply chain solutions (1)
Source: EMURGO

In September 2019, Hoskinson announced that New Balance, a global sports and footwear brand will also use the EMURGO Traceability Solution to help authenticate its products.

Following the launch of the EMURGO Traceability Solution, the announcement of this partnership with the Trail Alliance works to drive synergies between EMURGO’s tailored solutions for supply chains and fellow Trace Alliance members.

“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,” said Kodama.

The Trace Alliance is a non-profit association based in the European Union, which is within the OriginTrail ecosystem that functions as an inclusive, collaborative hub to connect all organizations aiming to work together to solve complex supply chain challenges using blockchain technology. OriginTrail completed a successful ICO in 2018 and raised US$22.5M.

Examples of the challenges the group aims to tackle include data interoperability, supply chain transparency, and fighting counterfeit practices. The Trace Alliance acts as a platform for sharing knowledge and experience from real-world blockchain implementations, allowing members to connect and pursue joint projects, creating new expertise, and facilitating the adoption of blockchain technology on a global level.

Existing members of the Trace Alliance include Deloitte, EVRYTHNG, TMA Solutions, Gijima, T-Provenance, Oregon Tilth, TE-FOOD, BTC Logistics Centre, and over 100 other enterprises and service providers.

“We are delighted to see EMURGO join the Trace Alliance and are looking forward to having them work alongside research institutions, software companies, and NGOs to exchange information, experience and expertise in this quickly evolving field,” said Ana Bevc, Secretary-General of Trace Alliance.


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