Developing pilot projects on blockchain and timber traceability
The trade in timber and other commodities associated with deforestation, such as palm oil, cacao, and rubber is global. There is a good chance that many products in your home, ranging from shampoo to flooring, are linked to deforestation. Not only does information from independent monitoring support environmental governance reform at the national level, but it also helps limit market access to illegal and unsustainabley sourced products.
While blockchain is a new technology, it has already proven effective in building more trustworthy supply chains for a variety of goods ranging from wine to pharmaceuticals. However, it has yet to be applied to timber tracking systems, which continue to rely on centralised systems that are expensive, inflexible, and subject to fraud. In fact, the lack of trust in timber supply chains is one of the major challenges to global efforts against illegal logging. REM is partnering with Gaiachain on a pilot project to test the feasiblity of applying blockchain to timber traceability in West and Central Africa. Gaichain is an EU startup.