BASF, a Germany-based chemical supplier to the automotive industry, last week announced that it has been collaborating and mentoring selected startups in pilot projects in the areas of blockchain, sensor technology, augmented reality, future manufacturing, and product simulation, CoinDesk reported.
The chemical giant presented a number of innovative ideas around mobility and digitalization at the EXPO Day of start-up accelerator STARTUP AUTOBAHN in Stuttgart on July 25.
“We believe that big ideas start small. That’s why we work with young entrepreneurs who have the potential to change the future of mobility and production,” says Jürgen Becky, Senior Vice President Performance Materials at BASF.
In particular, BASF presented a pilot project relating to supply chains that would help determine whether a delivery is incomplete or damaged even before one receives it. For this project, BASF collaborated with startups Quantoz and Ahrma to build a platform that not only informs the deliverable’s position and movement, but also its loading status as well as a possible impact or drop.
BASF explained:
“By using Quantoz’ blockchain technology, the security and trust in the data integrity could be additionally increased. This combination provides an outlook for a secure and transparent material and data flow in the future.”
FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest
