In January, the Government of Canada contracted blockchain firms Peer Ledger and Mavennet to develop a solution for enabling steel traceability. The goal is to increase industry efficiency, ensure responsible sourcing, and verify requirements within the country.
Halifax-based Peer Ledger and Toronto-based Mavennet System will each receive C$150,000 ($109,735) through Innovative Solution Canada, a government initiative to fund research and development of Canadian small business.
The two companies will work on a proof-of-concept (PoC) for digital traceability in the steel supply chain by using blockchain and artificial intelligence (AI). While the initial focus is on Canadian steel, the project will also explore the North American steel supply chain. Based on the results of the PoC, one of the two companies will receive up to $1 million over the two years to refine its prototype.
“With this challenge, we’re looking for a tool to better trace the steel supply chain and provide information on product supply and demand, instant verification of origin, and quality of inputs and outputs,” said Navdeep Bains, Minister of Innovation, Science and Industry.
In late 2018, the Government of Canada had published a solicitation for using blockchain and AI for tracing the steel industry supply chain. The two companies were contracted based on this.
Founded in 2016, Peer Ledger has developed the blockchain-based MIMOSI SaaS platform for responsible sourcing. The platform focuses on tracing the supply of gold and other metals to reduce safety risks, improve environmental compliance, and protect human rights. It has also worked with pharmaceutical companies to provide blockchain-enabled identity and access management to protect intellectual property.
Meanwhile, Mavennet’s solution is based on the AION blockchain and offers various enterprise solutions. The company’s website says it has previously worked with the Hong Kong Monetary Authority, Deloitte, Vodafone, Moog and the Toronto Stock Exchange.
A few months ago, Ledger Insights reported on the U.S. Department of Homeland Security (DHS) contract with Mavennet to develop a blockchain solution for oil imports from Canada.
Canadian firm Minehub has launched a blockchain supply chain platform for the metals and mining industry. Minehub developed the platform in collaboration with IBM and mining participants such as ING, Wheaton Precious Metals, Ocean Partners and Capstone Mining, among others.
The World Economic Forum (WEF) formed a blockchain consortium with Glencore, Tata Steel, De Beers, and a few others for transparency in the metals and mining supply chain.