In every sector, businesses and individuals want a better and more systematic traceability of what they buy and consume. There are several projects in the retail industry, such as Walmart/IBM or Carrefour, to address the consumer desires for greater transparency by using a blockchain technology for he traceability of the food products. These initiatives will spread.
The traceability using the blockchain technology is the WIBEX project ambition, with the task to provide the buyer with visibility over the entire supply chain, from where and how the trees were grown, the time of the cut, and the delivery. The blockchain tracks every step. The supplier will see his reputation greatly improved.
The wood industry will benefit from more transparency. It will help to tackle illegal logging that leads to deforestation.
The set up of an exchange where open interests are listed, where trading takes place following common compliance rules and standard specifications, will support the transparency and confidentiality needed for an orderly and safe market.