EMURGO - a global blockchain solutions provider & a founding entity of Cardano - successfully held its second webinar last week with participants from all over the world joining in to learn about how blockchain can make supply chain verticals more business efficient. There was detailed discussion of practical use cases and more conversation on the recently launched EMURGO Traceability Solution.
In EMURGO’s second online webinar with EMURGO Indonesia CEO Shunsuke Murasaki and Blockchain Solutions Unit Manager Purushotham Maralappa, we dove into the basics of blockchain technology, how blockchain adds value to the supply chain, actual use cases for blockchain integration into live supply chain models and a full discussion of EMURGO Traceability Solution’s integration with Indonesian coffee brand Blue Korintji Coffee.
Watch the EMURGO webinar here:
In the following section below, we recapped some of the great questions that we received from the webinar viewer audience.
Questions & Answers From the Community
Q: Is EMURGO Traceability Solution applicable only to the coffee industry or is it applicable to a more complex supply chain such as palm oil that has different processes and also more stakeholders involved?
Murasaki: It is applicable to other commodities as well. EMURGO Traceability Solution has been designed very flexibly and it can accommodate any business processes. EMURGO is very open for discussion on how to apply this technological solution in a more efficient way by imposing less changes into existing business processes but also recording data as much as possible.
Q: In which area of supply chain & business can we expect more blockchain integration?
Puru: According to research from World Economic Forum, Deloitte, and other companies, there is a high demand for blockchain inclusion in traceability, provenance and trade finance industries. At EMURGO, we are open to discuss real use case scenarios and provide suitable solutions in any of the areas of the supply chain where secure data transparency & traceability can add business value for stakeholders.
Q: What type of blockchains are suitable for business?
Puru: It all depends on the nature of each business. First, we would need to analyze the overall business to advise on the best blockchain architecture for that given business. We are seeing more trends in blockchain consortiums because of the need for privacy of information, efficient operational costs, reduced blockchain transaction fees, and flexibility in blockchain implementation. In some scenarios, a combination of public and private blockchain can be advised as most suitable.
Q: How could we engage all the stakeholders of a supply chain into adopting blockchain for transparency and traceability?
Murasaki: I have to admit that it is one of the most difficult things to initiate a traceability solution. First of all, everyone has to share the same vision of what they aim to achieve by implementing the solution because this kind of project requires a combined effort from all of the stakeholders. Also, it is very important to design some economic incentives to each stakeholder involved. In our case with Blue Korintji, the CEO is committed to bringing back revenue to farmers and stakeholders in the upper stream of the coffee supply chain because the company benefits from their efforts.
Q: What is the best way for a company to integrate blockchain technology without much knowledge?
Murasaki: I believe that education really matters. It would be great if stakeholders could agree on implementation of a blockchain solution without understanding the technology, but they will be the ones to manage the day-to-day operations such as maintaining the blockchain ledger so knowing some of the basics would be ideal. That is why EMURGO also focuses on blockchain education so that more people will be aware of the benefits blockchain technology provides. In our case with this coffee project & EMURGO Traceability Solution, we identified a key person in the community and communicated with him very in deep, then he cascaded his learnings about blockchain to farmers and collectors.
Puru: I would like to add a few more thoughts. Companies need to have basic knowledge about blockchain or they can partner with companies providing blockchain advisory services to start quicker. EMURGO provides comprehensive blockchain solutions advisory services to companies, organizations, and governments in addition to education to those who want to learn blockchain at an in-depth level.
Q: Are public or private Ethereum-based systems efficient for food traceability? What’s another option for traceability rather than using a QR code?
Murasaki: I think that this really depends on the volume of transactions expected, but so far we have not faced any difficulties with our coffee brand partner that sells close to 500 cups a day. Previously, EMURGO invested into a company called Helixworks that designs a custom DNA data storage which can then be applied as a coating to reliably trace products. Since their materials are transparent, it could be a really great fit with traceability projects since it can help to eliminate fraud in the supply chain.
Puru: There are advantages and disadvantages in using public and private blockchains. Depending on the specific business needs, we can tailor an enterprise solution that is public, private, or a hybrid architecture. In most enterprise cases, a private blockchain is advised because of the cost of blockchain transactions, controlled privacy of data stored in the blockchain, and higher transactions per second. Sometimes, a public blockchain can also be advised if a business believes it is in their best interest to keep the data open in the public domain so that anybody can access the data at any given time.
Q: Considering there is a tremendous gap among the infrastructure of certain South American countries, do you think a blockchain integration project could be viable?
Murasaki: We would need to know more about the industry & infrastructure in detail, but EMURGO Traceability Solutions is integrated with a coffee processor that is located in a very rural area with a spotty Internet connection. Our EMURGO Enterprise team built the tailored solution to be very light and it works effectively, so it could definitely work in those regions as well.
Want to read and learn more about blockchain use cases & other developments from EMURGO? Follow EMURGO on Twitter for the latest news and subscribe to the EMURGO Newsletter today to receive our free Blockchain Glossary eBook. You can gain access and learn about every term in the blockchain world you need to know!