New partnership of RIDDLE&CODE and S1Seven
by David Fleschen
RIDDLE&CODE and S1Sevenjoined to address traceability within the complex and fragmented metal industry. Every year, only in Europe 500 steel production sites and 500.000 metal processing companies exchange around 100 million paper certificates tomeet regulatory requirements for material quality documentation. While more and more machines are becoming connected to the Internet, these documents remain paper-based and non-machine readable, which has caused an increase in opportunities for fraud and negligence.
To mitigate these inefficiencies, RIDDLE&CODE and S1Seven are building a blockchain-based notarisation service for metal certificates that provide a product with a digital, tamper-proof identity and trace each step of its journey: from raw material to final application. The service allows manufacturers to replace hard copy documents with immutably stored digital records.“S1Seven is a technology pioneer awarded for its innovation within the metal industry,” said Stefan Gruell, S1Seven’s CEO.
“Partnering with RIDDLE&CODE is exactly what we need to generate industry-leading technology products.”“RIDDLE&CODE took its experience of working within the highly-regulated Swiss banking industry and developing solutions with partners such as Daimler, Wien Energie, Deloitte, and applied it to drive digitisation to the metal industry,” said Alexander Koppel, RIDDLE&CODE’s CEO. “Our expertise in blockchain-powered hardware, software and digital identities allow us to create an incorruptible connection between the metal industry products and their quality data.”
Source: Riddle & Code, Photo: Fotolia