Our blockchain project for logistics got to Block.IS program
Block.IS is an acceleration program that aims to build an open and collaborative cross-border, cross-sectoral innovation ecosystem that fosters blockchain technology in three vital sectors for the European economy: agrifood, logistics, and finance. Our blockchain project for logistics got accepted to the program.
Block.IS accelerator supports SMEs and startups from the ICT sector from ideation to commercialization, offering them tailored business and technical support and direct funding. To help founders build high-tech venture-backable enterprises, Block.IS offers €2.8 M in total financing through 2 open calls.
What is the goal of our project and why we use blockchain?
Our team applied with a blockchain project aiming to prevent companies from losing 15-20% of their Returnable Transport Items (RTIs). RTIs are utilized across all industries that rely on a supply chain. They provide a standardized method for moving goods from one location to another. Examples of RTIs include bins, kegs, pallets, and racks. Much like any asset, they can also be completely traceable. Depending on the company’s size, annual losses may reach up to EUR 3 000 000.
We proposed a decentralized IT infrastructure for the smart balancing of returnable transport packaging designed with privacy in mind to serve the entire logistics ecosystem. Business relations and the dependencies between other participants should remain undisclosed within the ecosystem. Our project, BARTI – Balancing Automation of Returnable Transport Items, tackles the problem of companies facing unnecessary costs associated with transporting loads of solely RTIs.
Next stages of blockchain implementation for the logistics sector
We have successfully passed the evaluation process and got accepted to join 45 SMEs (37 from the Open Call and eight as winners of Challenges) and started the Block.IS program in November. All companies were first challenged to create sound business plans presented to an Innovation Event/Clusters-Innovators Assembly during the INNOVATE phase.
We are happy to announce that our project got the judges’ attention. Our project got to the next EXPERIMENT phase and 22 other SMEs, where we will receive technical and business support and additional funding to move forward with the project development.
We provide an automated RTIs circulation ecosystem and allow participants of the supply chain to exchange information about their returnable packaging (e.g., pallets) balance without sharing the sensitive information (e.g., who are the suppliers, how much goods each company buys/sells, etc.). Considering the number of participants in the supply chain involved in RTIs circulation within one ecosystem, the immutability of the data in the system is essential. We designed a system meeting all challenges thanks to blockchain technology in our project.
Let’s stay in touch!
We will keep you posted about our progress on this project. Feel free to contact us in case of any questions or collaboration opportunities.