The Nordic Blockchain Alliance will create a common Nordic toolbox that can support companies for a successful start with blockchain technology. The alliance will also analyze experiences and pass on case stories that can provide companies with relevant information and support them in the transition to more traceable and transparent products.
The project is targeting companies that want to prepare themselves for future demands on transparency and documentation.
“Companies from the Nordic countries are engaged in key lifestyle industries that will play a role in the future daily living of users and customers, both in the Nordics and globally. It is therefore crucial to capture and understand the nature of barriers and opportunities related to blockchain technology”.
Peter Munch-Madsen, Senior Adviser at Nordic Innovation.
Blockchain technology: a sea of possibilities
Blockchain technology opens a lot of possibilities within the lifestyle business. The technology increases the possibility of exchanging product and company data in a secure and cost-effective way and a wide range of information can be placed on a blockchain such as data on product history, environmental impact, compliance with regulatory requirements and user instructions.
However, despite its potential, only a few Nordic lifestyle companies are using blockchain technology today. With this project, Nordic Innovation seeks to help lifestyle companies to get started.
“By creating a foundation of know-how on how to get started with blockchain technology, we can help lifestyle companies become more competitive and circular in their business models”.
Peter Munch-Madsen, Senior Adviser at Nordic Innovation.
Roundtables and a catalogue of ideas and recommendations
Besides from a common Nordic toolbox, The Nordic Blockchain Alliance will also establish roundtables with companies to discuss the opportunities and barriers related to the design of a Nordic blockchain. They will teach tech-startups about the lifestyle industry and match them with potential collaboration partners and customers, and they will create a catalogue of ideas and recommendations.
You can follow the project activities here
Background
The project is funded under the Circular Business Models program which is one of the eight initiatives launched by the five Nordic Ministers of Trade and Industry. The aim of the Circular Business Models program is to accelerate the transition to a circular economy in the Nordics and to develop the Nordics as agile frontrunners within circular economy.
