Spain readies blockchain for forestry gains

September 25, 2018
Chris Wheal

Spain’s Ministry of Agriculture, Fisheries and Food (MAPAMA) has committed to fund blockchain technology to trace the efficiency of its wood supply. MAPAMA has tagged the new blockchain ChainWood which will cover all the main Spanish regions including Galicia, Madrid, Andalusia, Castilla y León and Asturias.

Arcos de la Frontera, Andalucia, Spain

BlockTribune reported this morning that ChainWood hopes to cut across different wood supply chains to improve information access. 

Logistical edge

“ChainWood has already held working meetings in Santiago de Compostela and Madrid to develop a cloud-based software that will apply blockchain, big data, and machine learning to improve the transparency and flow of information throughout the supply chain,” the website reported. 

More practically it means wood producers should have much improved access to market offers as well as guarantees on product volume in real time, allowing them to gain a hoped-for logistical edge. 

Meanwhile the software is still under development. Once ready for trialling, pilot moves will be made with Castilla y León (poplar), Asturias (chestnut) and Galicia (oak).

Banking progress

Spanish banks are embracing, to a degree, blockchain technology

Elsewhere Spanish banking consortium Niuron announced midsummer they were in the throes of building a blockchain platform for client digital identification verification. This particular platform should be ready by the end of the year.

Niuron’s consortium includes Abanca, Bankia, Caixabank, Caixa Ontinyent, Ibercaja, Kutxabank and Cecabank. 

Post written by Chris Wheal
Chris Wheal is editor of OpenLedger's news and features service. An award-wining business journalists himself, he runs a team of freelance journalists from across the UK and north America.

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