Circularise, the Dutch based blockchain supply chain transparency provider, will showcase to CES 2021 the latest version of its solution to verify responsible sourcing and reinforce sustainable manufacturing and effective recycling practices while retaining full privacy protection of sensitive information.
The company is the winner of numerous awards including the Get in the Ring Impact competition 2020, the EIC Investor Day on the EU Green Deal 2020, the Odyssey Blockchain Hackathon 2020, as well as the 2020 finalist of the Alliance to End Plastic Waste Innovation Platform. Through its work Circularisesupports manufacturers and brands to address the UN Sustainable Development Goals. View the video on how we achieve that in our latest project with Porsche:
As sustainability and the circular economy gather pace, it’s becoming increasingly evident that there is a need for effective ways to trace materials and products from the production to the end of life and share information about them. Not only does more transparency allow companies to close the loop, it also makes sure they can mitigate risks across supply chains and create new revenue streams by sharing their “good-stewardship” practices towards customers and regulators. Still, getting this information has always been a problem not only because of the inherent complexity of supply chains, but also due to concerns around trust, privacy and confidentiality.
To address this problem, Circularise developed a patent-pending technology called “Smart Questioning” that allows stakeholders to ask critical questions (e.g. “Does this plastic part contain hazardous materials?”) to a guarded dataset (e.g. the bill of materials) and receive trusted answers.
This breakthrough technology is what sets Circularise apart from any other supply chain transparency service provider. While other solutions make information public by default or rely on consortium based blockchain platforms where data is centralised and exchanged within a “silo”, compromising on transparency for the sake of privacy, “we believe transparency should not come at the cost of reduced privacy and confidentiality. That is why we developed our patent pending technology for creating verified statements on public blockchains without revealing any underlying sensitive data,” says Mesbah Sabur, Circularise’s Founder. This means that companies using Circularise’s solution retain full control over their own data.