ChemChain SIGNED
Blockchain Platform to Track Chemicals along the Value Chain
Total Cost €
0EC-Contrib. €
0Partnership
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0ChemChain project word cloud
Explore the words cloud of the ChemChain project. It provides you a very rough idea of what is the project "ChemChain" about.
Project "ChemChain" data sheet
The following table provides information about the project.
| Coordinator |
MY CHEMICAL MONITORING BV
Organization address contact info |
| Coordinator Country | Netherlands [NL] |
| Total cost | 71˙429 € |
| EC max contribution | 50˙000 € (70%) |
| Programme |
1. H2020-EU.3. (PRIORITY 'Societal challenges) 2. H2020-EU.2.3. (INDUSTRIAL LEADERSHIP - Innovation In SMEs) 3. H2020-EU.2.1. (INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies) |
| Code Call | H2020-SMEInst-2018-2020-1 |
| Funding Scheme | SME-1 |
| Starting year | 2019 |
| Duration (year-month-day) | from 2019-08-01 to 2020-01-31 |
Partnership
Take a look of project's partnership.
| # | ||||
|---|---|---|---|---|
| 1 | MY CHEMICAL MONITORING BV | NL (ROTTERDAM) | coordinator | 50˙000.00 |
Map
Project objective
As there is significant market demand for enhanced flow of data and transparency throughout the lifecycle of products, to comply with existing legisltive requirements and to address emerging circular economy challenges, ChemChain supports the industry by creating a trusted and globally accepted open-source blockchain infrastructure to store, exchange, build and track chemical-related information along the supply chain. ChemChain blockchain technology is a game-changer for decentralizing infrastructure and building a trust layer in the Chemicals Supply Chain. Every time a raw material or product changes hands, from manufacture to sale, its chemicals could be documented. This creates an immutable source of information on a product’s chemical components, allowing companies to overcome current supply chain constraints. Also, it dramatically reduces time delays, added costs, and human errors that plague the chemicals supply chain today. ChemChain leads to (i) reduction of costs and simplification of procedures for demonstrating regulatory compliance, (ii) enhanced exchange of information among companies and stimulation of new synergies, (iii) increased knowledge on chemicals in products also among consumers together with a better understanding of their importance and risks, (iv) facilitated access to information on chemicals in articles also to recyclers and waste operators to manage potential environmental and health risks, and (v) generation of big data on the flow of chemicals in the society as unprecedented knowhow needed to address upcoming sustainability and circular economy challenges. Business Opportunity: Since estimated average annual total direct compliance cost with the legislation relevant to chemical companies (Europe only) approaches €9.5 billion, our project has potential for disruptive innovation and fast market up-take. The EC funding will allow us to quickly grow to €9.53 million in gross margin by 2023.
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The information about "CHEMCHAIN" are provided by the European Opendata Portal: CORDIS opendata.