RIDDLE&CODE and S1Seven joined to address traceability within the complex and fragmented metal industry. Every year, only in Europe 500 steel production sites and 500.000 metal processing companies exchange around 100 million paper certificates to meet regulatory requirements for material quality documentation. While more and more machines are becoming connected to the Internet, these documents remain paper-based and non-machine readable, which has caused an increase in opportunities for fraud and negligence.
To mitigate these inefficiencies, RIDDLE&CODE and S1Seven are building a blockchain-based notarisation service for metal certificates that provide a product with a digital, tamper-proof identity and trace each step of its journey: from raw material to final application. The service allows manufacturers to replace hard copy documents with immutably stored digital records.
“S1Seven is a technology pioneer awarded for its innovation within the metal industry,” said Stefan Gruell, S1Seven’s CEO. “Partnering with RIDDLE&CODE is exactly what we need to generate industry-leading technology products.”
“RIDDLE&CODE took its experience of working within the highly-regulated Swiss banking industry and developing solutions with partners such as Daimler, Wien Energie, Deloitte, and applied it to drive digitisation to the metal industry,” said Alexander Koppel, RIDDLE&CODE’s CEO. “Our expertise in blockchain-powered hardware, software and digital identities allow us to create an incorruptible connection between the metal industry products and their quality data.”
By leveraging on each other’s strengths and capabilities, RIDDLE&CODE and S1Seven are taking the metal industry into the new era that will enable manufacturers to become more efficient and competitive on their road to Industry 4.0.
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About RIDDLE&CODE
RIDDLE&CODE is the leading European Blockchain interface company that builds hardware and software stacks and brings trusted identity to objects and people in the financial markets, energy distribution, mobility and the Internet of Things.
More information: www.riddleandcode.com
About S1Seven
S1Seven empowers the future of smart manufacturing by providing a digitally integrated and trustless chain of steel quality data. S1Seven was awarded with the Austrian Blockchain Award for the accomplishments regarding blockchain-based digitisation in the metal industry. More information: www.steelbutsmart.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20200713005126/en/
Media contact
RIDDLE&CODE
Aysenur Yükselal Aji
aysenur@riddleandcode.com
S1Seven
Irina Goronja
irina@s1seven.com
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