Blockchain Adoption Advocated By ICC For Its 45 Million Members

• Toshendra Kumar Sharma
• April 26, 2019

ICC, the world’s largest, partners with trade organization leading distributed ledger firm, Perlin to bring innovative technologies to the fore. It plans to make blockchain technology available to the 45 million businesses under its wing and this includes McDonald’s, PayPal, FedEx, Amazon, and Coca Cola.

 

Perlin is a decentralized cloud computing marketplace. It uses the underutilized compute power of smart devices to provide global access to supercomputing and to make it economically viable. It is the first practical cloud network which helps preserve privacy. It is credited with creating the world’s largest supercomputer with a distributed network grid with 380 PetaFLOPs of power. That is equivalent to 2 million desktop computers. Perlin is backed by 200 institutional investors and some of the prominent ones are Bitmain, Arrington XRP, F2Pool, and ZhenFund.

 

Now an official ICC technology partner, Perlin will offer free access to its distributed ledger during the early stages of the project. The project will focus on offering scalable, practical, and efficient transparency systems and blockchain traceability for value chains.

 

Perlin is already involved in blockchain pilot projects with leading firms. It includes the one with APR (Asia Pacific Rayon), producer of sustainable materials. Named ‘Follow our Fiber,’ it aims to provide transparency to customers of APR across the blockchain. This will help them monitor the key stages of production right from planning until delivery. APR is Asia’s first fully integrated viscose rayon producer which produces viscose-rayon fiber from the raw material it gets from its renewable plantations.

 

International Chamber of Commerce (ICC) is the world’s leading business organization which has its focus on three major activities of dispute resolution, policy advocacy, and rule sets. Their business members include Small and Medium Enterprises (SMEs), local trade organizations, and multinational business houses. Their core mission is to make a business work for everyone, every day, everywhere. It sets rules that govern cross-border businesses.

 

In a press release on 12 April 2019, the 100-year-old ICC announced its partnership with Perlin for boosting supply chain processes in member companies, thereby making them traceable and transparent. ICC will assist members spanning over 130 countries to gain the advantages of this nascent technology with the support of Perlin. John Denton, secretary general of the ICC, stated: “In collaboration with Perlin, which leads the field in blockchain and distributed ledger development, we can help facilitate practical and truly disruptive transformation for businesses across every conceivable industry sector.”

 

During the announcement, Perlin mentioned that this pilot project will provide access to permanent data on a secure blockchain database. This will aid in ensuring that APR complies with the relevant industry-based and regulatory certifications and standards. Singapore will also benefit from this move as ICC and Perlin pledge to help improve its status as a tech hub through the advancement of regional initiatives.

 

“The Perlin team has always recognized that meaningful blockchain and distributed ledger tech adoption can only be achieved by building tools that are practical, scalable, cost-effective, and add substantial value for businesses of all sizes. As the real-world pilots, we’re already deploying show, the technology we’ve built meets each of these essential criteria head-ons,” commented Dorjee Sun, CEO of Perlin.

 

Though blockchain technology is still believed to be in its initial stages of development, there is a possibility for it to encourage positive transformations for businesses of all sizes.