Quarkchain blockchain firm said that it will partner with the ecological department of Northeastern Chinese province Shanxi. The two entities will jointly create an environmental governance platform on blockchain (EGPB). The new platform will be used by the local administration for trading and construction resource management.
The blockchain firm said that although limited construction materials are mainly found in a particular region, they are majorly distributed to many areas. That creates the need for a management infrastructure that can better supervise the creation and use of these resources.
EGPB will then be used for tracking resources along their large supply chain. The entire network’s node operators will be responsible for market supervision.
These node operators will comprise of the core participants in the sand transport, mining, trade, and other industry insiders. Additionally, the government insiders will share information and supervise resource transportation and exploitation. A Shanxi representative stated:
“Currently, QuarkChain’s EGPB solution has already been officially put into some pilot areas. Next step, it will be expanded to more cities and more types of resources.”
EGPB strives to offer a planned system that utilizes a blockchain with sharding to guarantee scalability and supports network customization.
Qi Zhou, Quarkchain CEO, told reporters:
“The reason why we stood out from many advanced blockchain technology suppliers is firstly due to our solution’s flexibility. QuarkChain’s heterogeneous multi-chain technology, also known as heterogeneous sharding, allows multiple chains on one system, and each chain can be different.”
Blockchain technology is now widely being used to track supply chains throughout the world. Tracking all types of data that cannot get modified makes it quite hard to steal goods or inject counterfeit products.
Earlier this July, an announcement said that Afghanistan’s healthcare ministry together with many local pharmaceutical firms will use a blockchain platform to fight counterfeit drugs. Recent reports also say that $300 billion worth of food will operate entirely on-chain by 2027.