Saffron & Global Traceability’s Blockchain Collaboration Awarded Innovate UK Funding

Global Traceability has recently been notified that a collaboration with Saffron Traceability, a distributed ledger company, has been awarded a UK government grant by Innovate UK.

Saffron Traceability LogoThe project is titled “Enabling Distributed Ledger Technology in Existing Chain of Custody Businesses”.

It sets out to explore how a supply chain business can use elements of distributed ledger technology, also known as blockchain, to improve the services it delivers in the supply chain it supports. The work is a feasibility study, any outcome of which will help Global Traceability’s users as they will benefit from this research.

Global Traceability’s participation in this project is part of its ongoing commitment to exploring and adopting best practice technologies and methodologies which add value to traceability.

Commenting on the win, CEO Dr Ulrich Heindl said:

“We are delighted to support this research in the UK. Blockchain and supply chain systems are a natural combination – certainly a lot of money has been raised by new companies promising the earth over the last couple of years through initial coin offerings. Our view is that this is a technology area that must be explored – and that certain concepts from blockchain are highly relevant – particularly where they improve the security of the information being passed from participant to participant. However, we also know that there is no ‘silver bullet’ to solve the challenges of traceability, and the concept of a ‘public ledger’ will not be acceptable to many private companies. We are glad to be having an input into work that will reveal where Global Traceability’s users can benefit from this fascinating technology area”

Interested in implementing blockchain to your supply chain? Get in touch or follow Saffron Traceability’s updates on this project here.