International Chamber of Commerce and Perlin unveil blockchain initiative

The International Chamber of Commerce (ICC) and Perlin, a distributed ledger company, will support blockchain adoption among the 45 million member businesses

As part of its 100-year anniversary, the ICC ( International Chamber of Commerce) has unveiled a global initiative in collaboration with leading distributed ledger firm Perlin to support its vast member base to take full advantage of next-generation blockchain technology. As part of the partnership, the ICC will connect Perlin to its vast member pool, which includes most national chambers of commerce and direct membership from companies including Amazon, Coca Cola, Fedex, McDonalds and PayPal. Perlin will join the ICC as an official technology partner, offering free access to its blockchain platform during the early stages of the project, with an initial focus on practical, efficient and scalable blockchain traceability and transparency systems for value chains.

"The ICC has always been committed to empowering our members to achieve the highest levels of corporate excellence and continuing innovation" explained John Denton AO, Secretary General of the ICC, "In collaboration with Perlin, which leads the field in blockchain and distributed ledger development, we can help facilitate practical and truly disruptive transformation for businesses across every conceivable industry sector."

Perlin is building blockchain-based traceability pilots for major regional businesses such as Asia Pacific Rayon (APR), 　the first fully-integrated viscose rayon producer in Asia producing viscose-rayon fibre with its raw material coming from its renewable plantations. The APR "Follow Our Fibre" pilot will provide transparency over its viscose-rayon value chain – allowing APR’s customers to monitor key stages of production from planting to delivery. This will provide transparent and permanent data on a secure blockchain database that APR is in compliance with relevant regulatory and industry-based standards and certifications. APR will be able to showcase the extensive work it has done to create and maintain a rigorous framework of sustainable practices.

Both the ICC and Perlin believes that the adoption of blockchain-based technology is better positioned now than ever before to support positive disruptive changes for businesses like APR, which will translate to greater value for shareholders and end-customers alike. While still a largely nascent technology, the momentum for realising the compelling untapped potential of blockchain through greater adoption is now being accelerated by industry leading organizations like the ICC, large-scale traditional businesses like APR, and pioneers in the field like Perlin.

"The Perlin team has always recognised that meaningful blockchain and distributed ledger tech adoption can only be achieved by building tools that are practical, scalable, cost-effective and add substantial value for businesses" shared Dorjee Sun, CEO of Perlin, "As the real-world pilots we’re already deploying show, the technology we’ve built meets each of these essential criteria."

In addition to the blockchain partnership, the ICC and Perlin are working together to advance regional initiatives positioning Singapore as a hub for industry innovation and excellence. The commodities trading industry, digital innovation in value chains, and ICC’s Business Action to Stop Counterfeiting and Piracy (BASCAP) Initiative will be of particular focus.