Spain to Develop Blockchain Tech Application for Transparency in Forestry Industry

The Spanish Ministry of Agriculture, Fisheries and Food plans to apply blockchain technology to develop the forestry industry, local news outlet EuropaPress reported September 21.

The operating group, entitled ChainWood, aims to improve the traceability and efficiency of the wood supply in Spain by implementing blockchain technology in industry logistics.

ChainWood is a group of eight partners from different Spanish regions, including Galicia, the Community of Madrid, Andalusia, Castilla y León, and Asturias.

The operating group was created with funding by the Ministry of Agriculture, Fisheries, and Food, the Directorate General for Development Rural and Forest Policy, and the General State Administration, with a total subsidy of 93,350 euros.

The working meetings of ChainWood have already been held in Santiago de Compostela and Madrid, with the group set to develop a cloud-based software "That will improve the transparency" to forestry processes - like the creation of solid wood, disintegration, cellulose paste, and biomass - by applying blockchain, big data, and machine learning.

Once the platform has been developed, ChainWood will carry out pilot experiments in Castilla y León with the poplar, Asturias with the chestnut, and Galicia with the oak tree.

Back in August, China's northern Sichuan province government signed a strategic cooperation contract establishing a new company, Hangzhou Yi Shu Blockchain Technology Co., Ltd, for "Forestry economic development and industrial poverty alleviation."

Previously this summer, the Catalonian Government had revealed a plan to promote blockchain technology "With the aim of improving digital services to the public," Cointelegraph reported July 25.