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Bringing Blockchain to Spain’s forestry industry
According to its website, the Spanish Ministry of Agriculture, Fisheries, and Food will leverage blockchain technology on its wood supply chain. Operating under the Charnwood entity, the group will use blockchain to track the supply of wood from the moment trees are felled until they are industrialized. This will help reduce costs and improve efficiency and traceability.
Due to the numerous wood supply chains in Spain, transparency, efficiency, and access to information are compromised. Information gaps hinder modernization and improvement, especially when wood moves from the forestry stage to the processing stage. For full efficiency, the platform will leverage big data and machine learning. Once fully developed, three pilot programs will be run in Castilla y León, Asturias and Galicia regions for the poplar, chestnut, and oak wood supply chains, respectively.
Long-term benefits for forestry and industry players
The platform is expected to benefit all parties right from producers to control authorities, limiting exploitation and enhancing logistics. It is even anticipated that the newly decentralized information will not only improve competition but make it fairer while also increasing trust.
At present, the company is immersed in the design of the project. Following the design stage, the company will request funding for successful implementation.
ChainWood, financed by the Spanish government, is a consortium of 8 partners from Galicia, the Community of Madrid, Andalusia, Castilla y León and Asturias, ranging from forestry associations to technological centers specializing in wood. It is also subcontracted by Indra Sistemas and the Finnish company Risutec, which specializes in forestry machinery.