New York, NY, October 05, 2022 – (SEAPRWire) – The Quadrans Foundation, as part of the TRICK Consortium, will provide the blockchain technology infrastructure for the new platform’s design and will use Truebit to achieve TRICK’s development goals.
TRICK Project (product data traceability information management by blockchains interoperability and open circular service marketplace) was funded by the European Union’s Horizon 2020 research and innovation programme (GA 958352) with € EUR 8 million in contributions and the aim of creating a blockchain-based, standardised platform to enable textile and food companies to collect product-secured data.
The project started in May 2021 with a duration of 42 months and is supported by a consortium of 32 partners from 8 EU countries and 3 extra EU-eligible countries, coordinated by Fratelli Piacenza S.pA. Italian top brand in luxury fabric manufacturing and the participation of public institutions such as ENEA, the Italian National Agency for New Technologies, Energy and Sustainable Economic Development and ADM, the Italian Customs and Monopolies Agency.
Within the TRICK Consortium there is the Quadrans Foundation, a non-profit organisation under Swiss law that conducts research and development of the Quadrans blockchain: an open-source, public, decentralised smart-contract-based blockchain with a specific focus on the needs of industry, complex supply chains, and IoT devices.
For its unique characteristics, the Quadrans blockchain has been chosen to be a central technology for the TRICK infrastructure and the Quadrans Team, together with UBITECH, is committed to leading the “Design and Implementation of Blockchain Integration and Interoperability” (Work Package 3 Tasks 3.3).
As Quadrans works together with the TRICK Consortium, the main goal of the partnership is to create a safe, secure, and reliable blockchain-based platform that will help standardise the services for the textile and food industry across Europe.
The project aims at the development of a complete, SME-affordable and standardised platform for data collection, secured by blockchain technology, to enable enterprises to collect product-secured data, combined with a marketplace including the needed services and the data generated, open to third parties’ certified solutions and business models.
As many businesses are concerned with data privacy and confidentiality, the TRICK Project will use Quadrans blockchain technology and smart contracts to ensure all information is protected and secured. Additionally, access to data will vary across levels, with information available only to those with specific permissions.
TRICK’s Development Progress
TRICK Project blockchain-based data collection platform has now reached a crucial design phase.
Quadrans made progress with the activities for the integration and interoperability by utilizing Truebit, an additional blockchain enhancement that enables Smart Contracts to securely perform complex computations in standard programming languages, at reduced gas costs on Quadrans blockchain.
Thanks to Truebit integration the infrastructure design and implementation for interoperability can achieve:
- A cross-chain transaction involving consensus mechanism and smart contracts;
- Data authenticity, integrity, and provenance to be verified on-chain and cross-chain.
The official documentation relating to the Work Package (WP3) Tasks 3.3 is being processed and will be delivered to the European Commission by mid-October.
This document will present the methods of using Truebit for the resolution of all the tasks of WP3- 3.3 and will be submitted to the EU which will approve it within 60 days.
About TRICK Project
TRICK focuses on affordability as many small businesses run into financial issues when it comes to making the change to complex technologies (e.g. blockchain) and expects to close this gap by offering its information systems management platform and supporting supply chain standardisation across the European textile and food market.
TRICK plans to use its experience, along with collaboration and cooperation from various academic partners, government agencies, and institutions to provide a blockchain-based model to the textile and food industry. Overall, the intention is to provide a much-needed improvement on the already existing process, which is lacking in many areas: counterfeiting of products and greenwashing techniques are amongst the widely reported.
Lastly, TRICK expects to drive awareness around its implementation by providing a strategic roadmap to key stakeholders. Doing so will establish legal standards, processes, and methodologies necessary to lend credibility to these guidelines.
What will happen next?
In December this year, all TRICK members will demonstrate the platform’s developments to the European Union, during which the Quadrans Team will present the use of Truebit in detail.
Once the document has been delivered and validated by the EU, it will then be published on the TRICK-Project website, in the official project documentation, under “Deliverables“.
Social Links of TRICK Project
Social Links of Quadrans
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