Morpheus.Network, a prominent Canadian firm specializing in supply chain management and blockchain technology, has been accepted into the second cohort of the European Blockchain Sandbox (EBSI). This selection, determined by blockchain experts and independent academics, underscores the significant potential of Morpheus.Network’s innovative solutions.
The company is collaborating with ReLOG3P, an Italian startup focused on global trade, freight logistics, supply chains, mobility, and transport industries. Their joint efforts are aimed at supporting the UN Agenda 2030 and the EU’s sustainability objectives.
Automated Certificate Management System
The core focus of this partnership is the development of a fully automated certificate management system designed to replace inefficient manual processes with streamlined digital solutions. Utilizing distributed ledger technology (DLT), the system aims to ensure trust in certificates and verifiable data, addressing issues such as fraud and plagiarism.
Dan Weinberger, CEO and co-founder of Morpheus.Network, emphasized that joining the European Blockchain Sandbox allows the company to leverage its technology for broader societal benefits, aligning with its corporate objectives. Weinberger indicated that their robust solutions are capable of identifying non-compliant suppliers, issuing proactive alerts about certificate expirations, and integrating with authorities to manage digital trails for each supplier.
Revolutionizing Document Handling
Morpheus.Network has introduced a fully automated Certificate Management System, which functions as a flexible and scalable middleware. This system is designed for seamless integration across various supply chain participants, enhancing the overall efficiency of document management.
The system features a self-service portal integrated with a document handling database, facilitating smooth collaboration between stakeholders. This portal ensures the integrity of sensitive documents, which is particularly crucial in the food and pharmaceutical sectors. Each certificate is uniquely identified and recorded on a blockchain backend, ensuring trust and traceability.
Enhanced Supply Chain Solutions
Morpheus.Network’s DLT framework guarantees the integrity, security, and permanence of data throughout the supply chain. The solution offers real-time tracking and visibility of products, creating an immutable audit trail that enhances transparency and efficiency for all stakeholders. This automation of document collection and management from over 100 suppliers significantly reduces operating costs associated with supply chain delays and fines, while improving stock turnover and working capital requirements.
Since 2018, Morpheus.Network has been providing innovative and intuitive solutions for supply chain management. Weinberger highlighted that the company’s commitment to replacing manual processes with secure technologies such as DLT is a critical milestone. He pointed out that the partnership with ReLOG3P will benefit suppliers by enhancing transparency and efficiency while supporting sustainability and compliance initiatives.
Stefano Negrini, founder and principal of ReLOG3P, emphasized the increasing need for transparency in global trade. He noted that issues such as fake news, fake declarations, and missing information on child labor have already had a significant impact at various levels. Negrini explained that ReLOG3P began its journey in 2021 to enhance transparency, trustworthiness, and traceability in global trade. He expressed pride in the solution proposed by their partners in Italy, which aims to achieve the UN goals and EU sustainability targets. Negrini added that combining their DLT with ReLOG3P’s SRL® – SDG Readiness Level – tools will support partners and customers in meeting the high demand for transparency within the global supply chain.
Other European Blockchain Sandbox Participants
The European Commission has also announced the selection of Iota’s Web3 Identification solution for the current edition of the EBSI. Other chosen participants include Iota, known for its open-source distributed ledger and cryptocurrency ecosystem, Trrue, RealEstate.Exchange (REX) DigiShares, DoxyChain, Hacken, and Origintrail. These projects will benefit from a controlled environment for testing and validation, as well as opportunities to engage directly with regulators across the European Union.
The EBSI, launched by the European Commission in 2023, serves as a testing ground for DLT solutions across multiple industries. It fosters innovation and regulatory discussions essential for the evolving landscape of decentralized finance (DeFi).
The inclusion of these diverse projects represents a significant step towards integrating blockchain technology in various sectors, promoting transparency, efficiency, and compliance on a global scale.