We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • ::COVID-19 COVERAGE::
  • INDUSTRY PRESS ROOM
  • SUBMISSIONS
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
  • STRATEGY
  • GLOBAL
  • LOGISTICS
  • MANUFACTURING
  • PROCUREMENT
  • VIDEO
    • News & Exclusives
    • Viewer Contributed
    • Upload your video
  • BLOGS & MORE
    • White Papers
    • Webcasts
    • Events
    • Blogs
      • SCQ Forum
      • Reflections
    • Mobile Apps
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
  • STRATEGY
  • GLOBAL
  • LOGISTICS
  • MANUFACTURING
  • PROCUREMENT
  • VIDEO
    • News & Exclusives
    • Viewer Contributed
    • Upload your video
  • BLOGS & MORE
    • White Papers
    • Webcasts
    • Events
    • Blogs
      • SCQ Forum
      • Reflections
    • Mobile Apps
Home » Elemica Partners with Centrifuge to Enable Digital Finance via Blockchain Protocol
Press releases are provided by companies as is and have not been edited or checked for accuracy. Any queries should be directed to the company issuing the release.

Upload your press release

Elemica Partners with Centrifuge to Enable Digital Finance via Blockchain Protocol

April 9, 2019
No Comments

Wayne, PA. - April 9, 2019 - Elemica, the leading Digital Supply Network for the process industries, today announced a partnership with Centrifuge to create a blockchain-based visibility and financing offering.

Elemica and Centrifuge are addressing the specific challenges and use cases of blockchain technology for the supply chain industry. The partnership allows 3rd parties to leverage the technology to build, host and use their own blockchain applications, smart contracts, and functions on the blockchain, which will benefit all users of the Elemica network.

"The process manufacturing industry is evolving by seeking an interconnected approach between Blockchain technology and their current focus on Industry 4.0 and Digital transformation initiatives," said Arun Samuga, CTO, Elemica. "As such, different participants in the supply chain can trigger participation through a blockchain solution if their activities are modeled through distributed ledgers and smart contracts. This makes supply chains more efficient and more resilient to risk by enabling end to end visibility."

Centrifuge is actively working with Elemica to build a network and collaborative space to solve the challenges of decentralized finance. Centrifuge and Elemica will work together to enable supply chain finance, improve supply chain processes and explore various additional use cases, making transactions more manageable and easily authenticated. Centrifuge, through their open and decentralized blockchain protocol, provides access for all network participants to those services.

"In the process industry, there is a tremendous amount of time and effort spent on creating and enforcing contracts, auditing payments, reconciliation, and legal proceedings. Blockchain technology enables a trustless environment with distributed ownership of data," said Martin Quensel, Co-Founder of Centrifuge. "If data or assets can be tokenized, they can be used for automated governance through smart contracts and for transfer of finances, so they are not investing efforts in contracts and financing."

About Elemica
Elemica is the leading Digital Supply Network for the process manufacturing industries. Elemica accelerates digital transformation by connecting, automating, anticipating and then transforming inter-business supply chain processes for the products they buy, sell, and move. Launched in 2000, customers process over $500B in commerce annually on the network. For more information, visit www.elemica.com.

About Centrifuge
Centrifuge is an open, blockchain based protocol to connect the global financial supply chain. It allows any business to transact while maintaining ownership of their data, including their validated company details, their reputation, business relationships, and subsequent transactions. For more information, visit www.centrifuge.io.

More Info: http://www.elemica.com

Submit your logistics, material handling, or supply chain related company news in Supply Chain Quarterly's's Industry Press Room section or New Products section
  • Related Articles

    SEKO Logistics Partners with Bringg to Offer New Age Digital Consumers Visibility and Control

    Elemica Introduces New Benefits to its Digital Supply Network & Supply Chain Solutions

    FIND And LLamasoft Partner To Increase Access To Diagnostics Via Development of an Open-Access Tool

You must login or register in order to post a comment.

Report Abusive Comment

Most Popular Articles

  • COVID-19 and the health care supply chain: impacts and lessons learned

  • Domino effects of Suez Canal blockage could last for months

  • What type of supply chain strategy drives market cap leadership?

  • Demand for robotic goods-to-person systems to quadruple through 2023

  • The future of supply chain sustainability

Featured Video

6cabd6ef 64df 4460 bb11 e90c2bdea0a5

Identifying Intralogistics Solutions to Fit Your Operation: LinkedIn Live Ep. 4

Viewer Contributed
As technology evolves, the advantages of using semi- and fully automated solutions to increase productivity and address labor shortages are clear. However, before an organization jumps fully into automation, optimization is a key step that must happen first. Intralogistics solutions, such as Raymond’s iWAREHOUSE and...

FEATURED WHITE PAPERS

  • Special Report: Supply Chain Trends in Retail & Consumer Goods

  • Operations: Adapt Fast or Disappear

  • Using innovation to manage peak seasonal demand

  • Warehouse Management System Project Toolkit

View More

Subscribe to Supply Chain Quarterly

Get Your Subscription
  • SUBSCRIBE
  • E-NEWSLETTERS
  • ADVERTISING
  • CUSTOMER CARE
  • CONTACT
  • ABOUT
  • STAFF
  • PRIVACY POLICY

Copyright ©2021. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing