Blazing a trail for transparency, a leading chemicals company has introduced the first digital sustainability traceability system in the detergency and homecare sector to be based on blockchain technology.
The new traceability tool has been launched by Cepsa Química, a leading producer of linear alkylbenzene (LAB), the raw material used for biodegradable detergents. The blockchain-based system will allow the company’s customers to track the origin of raw materials, plus relevant certificates, through a QR code.
The development of this new system has been carried out in collaboration with Finboot, a tech company specialising in information platforms based on blockchain technology.
MARCO, the blockchain platform developed by Finboot, is designed to improve management of value chains. Driving forward digitalisation, sustainability and ESG, MARCO connects blockchain technologies securely under one roof, turning data into trusted digital assets, to accelerate progress towards interoperability.
System has five specific tech characteristics
The Cepsa Química and Finboot joint platform provides full product traceability, as each transaction is recorded in a safe, decentralised database. This system represents an exponential improvement compared to current certification systems typically used in the detergency sector worldwide.
Specifically, the platform is based on the full development of its five specific technical characteristics:
- Traceability — each transaction is recorded in the blockchain;
- Transparency — information is accessible to anyone who has access to the blockchain;
- Endurance — nothing recorded in the blockchain can be changed;
- Decentralisation — information is distributed in several points and not in a single place; and
- Security — blockchain processes are totally safe thanks to dispersion of information and cryptography.
It is claimed that these properties make the platform the most comprehensive, accessible, and secure digital sustainability certification system in the detergency and homecare industry.
The launch is an industry first, says David Liras, Director of Digital, IT and Transformation Cepsa Química:
“This new digital platform makes Cepsa Química the leading company in the detergency and homecare sector in sustainable digital certification — providing our customers, in a simple, secure and fast way, access to all information on traceability in the manufacturing processes and our products.”
The drivers for blockchain use are clear, concludes Juan Miguel Perez, CEO and Co-Founder of Finboot:
“It allows Cepsa Química to show their clients the full lifecycle — or provenance, if you will — of raw materials and products. It places Cepsa Química at the forefront of transparency in their industry. Simplifying compliance reporting and certification processes — which carry direct implications for business reputation and brand value.”
Sustainable innovation, from chemistry, to blockchain
A world leader in LAB, Cepsa Química is also number one in the production of cumene, an intermediate product used in phenol and acetone — the main raw materials for the manufacture of engineering plastics. The company employs more than 1,000 people and has plants in seven countries around the world.
Originally founded in Spain back in 1929, international parent company Cepsa is committed to sustainable mobility and energy. The company is embracing ESG criteria as it works towards its Net Positive objective.
In 2022, Cepsa presented its new strategic plan for 2030, Positive Motion, which sets out its ambition to be a leader in sustainable mobility, biofuels, and green hydrogen in Spain and Portugal.
This decade, it will reduce its Scope 1 and 2 CO2 emissions by 55% and its carbon intensity index by 15-20%, with the goal of reaching net zero emissions by 2050.
Headquartered in Cardiff, in Wales, Finboot is a technology company dedicated to simplifying enterprise blockchain, to facilitate fast and easy adoption of digital ecosystems. In particular, Finboot has created the first No-code / Low-code platform and ecosystem for a decentralised world, MARCO, to help enable Web3.
The Web3 concept refers to the shared vision for a next-generation version of the internet, which utilises decentralised blockchain technology to place more power in the hands of individual users.
Further Reading:
- More about international sustainable mobility and energy company Cepsa ;
- More about sustainable chemistry specialist and leading producer of LAB Cepsa Química;
- More about enterprise blockchain tech company Finboot; and its MARCO platform;
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