Chemycal's ChemChain is a open-source global blockchain platform to transfer information on hazardous chemicals along the value chain, from chemical manufacturers to consumers, recyclers and waste operators.
More than 150.000 different chemicals are used in products we use in our daily life today, many of these are hazardous to human health and environment. Consumers, governments and NGOs are putting pressure on industry to increase transparency in the chemical supply chain. 9.5 billions EUR are spent every year in Europe to comply with chemical regulations but the industry is still struggling to deliver complete information about the chemicals in products. Value-chain complexity, confidentiality and trust are all major roadblocks. ChemChain is the first distributed ledger protocol to exchange and trace information on chemicals in products along the entire supply chain. ChemChain allows untampered, verifiable information to flow from chemical manufacturers to end consumers, recyclers, and waste operators. To accomplish this, digital tokens representing quantities of substances, are generated at the point where chemicals are produced. These tokens are passed along the supply chain along with chemical shipments, accumulating information on handling, uses, and exposure from each of the supply chain participants. Chemchain uses layered encryption to make sure that data is only accessible to the owner. This approach means companies can have end-to-end traceability without making their entire supply chain public or relying on a third party.