Circularise offers a web-based product tracking system that can be applied in a virtual and endless range of product value chains.
In terms of raw materials and resources, using Blockchain will enable stakeholders in the value chain to get an oversight of the whereabouts of products and raw materials, to forecast the geographical buildup of deposits and to plan logistics and recycling activities for specific materials. This will result in a more focused recycling approach, a higher quantity and quality of secondary raw materials and ultimately securing European sources of (critical) raw materials.
Blockchain driven innovations in the supply chain will have the potential to deliver tremendous business value by increasing supply chain transparency, reducing risk, and improving efficiency and overall supply chain management.
Since the company was founded in 2016, Circularise has undergone a steep development curve that has led to their first commercial success in the midst of 2017. Two launching customers (a mobile phone manufacturer and a home- and office appliances manufacturer) signed a product/service contract for applying the ‘CIRQR’ codes on their products and for the use of the life-cycle CIRQR tracking-app. Another large worldwide manufacturer in home- and office furniture & appliances is expected to follow on short notice.
Globally, over 55% of businesses plan to use Blockchain technology by 2020 to increase internal innovation efforts, including adopting newer technologies such as Artificial Intelligence (AI) or changing the cultural environment to one that fosters innovation.
Source: PwC Global FinTech Report 2017