Hitachi and Mizuho have joined forces to develop a blockchain platform for supply chain management system.

The companies have started exploring the use of blockchain technology in the supply chain sector. The trial is particularly focusing on a part of Hitachi Group's global supply chain.

Starting next month, Hitachi and Mizuho will begin to develop a prototype of an application that comprehensively manages the supply chain, such as global procurement of equipment and components, using blockchain technology. According to CoinDesk, the system will be built on the technology from the Hyperledger blockchain project. It will aim to assess whether the technology could be used to record orders, invoices, and otherwise collect data about company operations.

“By utilizing the blockchain technology for procurement, we can share orders and deposit data between each base and business, and understand the situation of the entire supply chain, and record information about the source of parts, etc., to achieve reliable traceability management,” the release said (loosely translated).

Hitachi intends to bring its Internet of Things platform “Lumada” to the trial to help in data collection efforts and build commercial products.

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