Marubeni Will Use Blockchain to Track Plastic Shipments

Marubeni Will Use Blockchain to Track Plastic Shipments

A major Japanese trading company, Marubeni, has partnered with a startup, Circularise, to use the blockchain to track shipments of chemicals and plastics.

Plastic is a serious environmental problem, as it decomposes for hundreds of years, and also contains various carcinogenic and toxic chemicals, including antimony trioxide, phthalates, mercury, bisphenol, cadmium, and so on.

Marubeni has partnered with Dutch startup Circularise to use blockchain to track supply chains. The blockchain will allow you to track the supply of chemicals, but at the same time maintain the necessary level of privacy of the supply participants.

First, the system will be tested among Marubeni’s Japanese customers and, if the pilot program is successful, international partners will also be connected to it. Terumasa Watanabe, Chief Operating Officer and Head of Plastic Supply at Marubeni, said::

“Blockchain will provide transparency and greatly simplify decision-making, especially when it comes to the supply of raw chemicals.”

Recall that in early 2019, Marubeni signed a partnership agreement with the American startup LO3 Energy to use the blockchain to develop its energy direction.