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Saudi Chemicals Producer SABIC Launches Blockchain Pilot Project – Blockchain Bitcoin News

Saudi Chemicals Producer SABIC Launches Blockchain Pilot ProjectA Saudi Arabia-based chemical manufacturer has said its recently launched blockchain pilot is expected to uncover the possibilities of the technology “in supporting end-to-end digital traceability of circular feedstock in customer products.” The benefits expected to accrue from using blockchain include reduced costs and time as well as improved data integration.
End-to-End Digital TraceabilityA Saudi Arabian chemicals manufacturer, Saudi Basic Industries Corporation (SABIC), recently said it had launched a blockchain pilot project in conjunction with the technology firm Finboot.
The company also hopes the pilot will help reduce administrative efforts related to the certification process of materials.
Blockchain technology holds exciting potential for the provision of our TRUCIRCLE products to customers, and therefore for our commitment to supporting customers in their sustainability ambitions.
Throughout the process, the technology will ensure the immutability of all collected data that must be distributed to suppliers, customers, and regulators.

Disclaimer: This story is auto-aggregated & summarized by a computer program and has not been created by TokenAround.

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