SABIC has established a consortium blockchain project aimed at creating additional transparency and digital traceability for its TRUCIRCLE feedstock solutions, in collaboration with technology company Finboot, advanced recycling company Plastic Energy, and packaging specialists Intraplás.
The pilot project is aimed at investigating the possibilities of blockchain technology in supporting end-to-end digital traceability for so-called circular feedstock in customer products. The companies say that tracing the journey of feedstock through the petrochemical value chain is currently a difficult undertaking.
SABIC claims its blockchain-based, value-chain IT solution, which will focus on its TRUECIRCLE portfolio of feedstock certified as circular by Net Zero Plastics, will be the first project of its kind in the industry to trace the product from feedstock production to converter. The company adds that the platform will offer reduced costs and time, as well as improved data integration for...
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