In the last 18 months blockchain has become a watchword for all things innovative and disruptive. Initially hitting the mainstream with the emergence of bitcoin and other cryptocurrencies, blockchain’s potential applications are seemingly limitless and stretch far beyond the world of finance.
A blockchain is “a ledger in which new transactions refer to previous ones. Why? It guarantees one can only add transactions at the end of the ledger” (Provenance, learn more here). The system is decentralised and extremely resistant to fraud which makes it ideal for auditors and assurance systems and led us, and our partners, to explore the potential for blockchain to support sustainability certification
Over the past 9 months, RSB has been working alongside technology partner Provenance to explore the opportunities blockchain technology offers to sustainability certifications and commercial partners. Provenance leverages blockchain technology to bring transparency to supply chains, enabling great businesses to build trust with customers.
The project – which was an exploratory, pilot project aimed at learning more about this new, disruptive technology and how it can be utilised to increase supply chain efficiencies – was funded by the ISEAL Innovations Fund.
In collaboration with sustainability certifications and standards members of the ISEAL Alliance, the project developed and researched three applications for the technology to improve the efficiency and credibility of sustainability certifications.
These applications were:
To learn more about what we learned, as well as the recommendations for a future project, please download the full report here.
Please contact us if you would like to access the 1-hour webinar where we present the project results and answer some key questions about the project.
Special thanks to UPM Biofuels for supporting the project.
The ISEAL Innovations Fund is supported by the following partners: