The new organization for New Energy and Industrial Technology Development in Japan (NEDO) is working on a data exchange system based on blockchain for trade.
It is reported that NEDO, the largest public management organization in Japan that conducts research and implementation of industrial and energy technologies, is developing a project based on blockcchain to optimize the information exchange infrastructure for trade. The organization works on behalf of its parent body, the Ministry of Economy, Trade and Industry (METI).
The project “Developing Infrastructures for the Creation of New Industrial Models Using IoT Benefits” aims to create an infrastructure that will digitize and expand the process of data exchange in logistics between trade organizations such as shipping companies, brokerage operators, port authorities, banks and Insurance companies.
Blockchain-project NEDO is a joint venture established in partnership with Japanese NTT Data, one of the largest IT companies in the country. According to a press release by NTT, the company also plans to implement a social implementation of the new infrastructure during 2019 to improve the global supply chain.