Africa-focused blockchain startup Watr has joined forces with Parity Technologies to create a decentralized solution for tracking ethical commodities. Parity is best known as the technical team behind Polkadot, one of the world’s leading blockchain networks. It was created by Dr. Gavin Wood, who also co-founded Ethereum.
Climate change, social justice, and provenance of goods are of great concern to consumers in the western world, where ESG (environmental, social, governance) affects corporate actions. Given that many of the commodities exported to the west originate from African countries, Watr believes blockchain can provide supply chain transparency, giving buyers confidence in the source and quality of goods.
Watr Foundation Council President Maryam Ayati hailed “the opportunity to create new classes of ethical commodities and traded supply chains,” emphasizing the benefit of having Parity’s technical skills to call upon in developing the infrastructure. Products being developed...
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