Fri. Feb 21st, 2020

Canadian government chooses Mavennet to develop on-chain steel tracking platform

Mavennet,
a Toronto-based blockchain startup has announced that it has received a
contract from the Canadian government to develop an on-chain steel tracking
platform.

In
November, the Innovation, Science and Economic Development of Canada (ISED)
published a procurement award that will fund the R&D project for six months
with CD $169,427 (£98,300). As per the contract, Mavennet will be aiming to
build a blockchain proof-of-concept prototype that will be able to track and
share real-time data across the supply chain in the Canadian steel industry.

Meanwhile,
the UK government is offering
£130,000 to developers
who will be able to build cryptocurrency tracing
software. The rise in concerns regarding the usage of cryptocurrencies for tax
avoidance has been the main reason why the government is desperately looking
out for a developer. The software will therefore, help the government to
identify when cryptocurrencies are used to avoid paying taxes. The HM Revenue
and Customs is in search of a tool that will support intelligence gathering
methods to identify and cluster cryptoasset transactions into linked
transactions and identify those linked to cryptoasset service providers.

In November 2019, Walmart Canada announced the introduction of a blockchain-based freight and payment network, which made use of DLT Labs’ supply chain platform ‘DL Asset Track’. The network, played an important role in tracking deliveries, verify transactions and also automate payments and reconciliation among Walmart Canada and its carriers. The freight and payment network helps to manage, integrate and synchronise all the supply chain and logistics data in real-time.

Interested in hearing more in person? Find out more at the Blockchain Expo World Series, Global, Europe and North America.

The post Canadian government chooses Mavennet to develop on-chain steel tracking platform appeared first on The Block.

Read the original post: Canadian government chooses Mavennet to develop on-chain steel tracking platform