Designed as a controlled and secure space for companies to innovate, the EU Blockchain Sandbox has identified Compellio and Uni Systems as key players in this endeavor. Their joint project focuses on the development of pioneering solutions related to DPPs – which hold considerable promise in promoting sustainability and enhancing supply chain control.
DPPs stand at the forefront of the European Union’s digital policy, serving dual objectives: facilitating sustainable development goals, and strengthening the EU’s strategic autonomy in global supply chain management. This said, DPPs can actually bridge the gap between the physical and digital worlds, and help provide easy access to product information from businesses (B2B) and consumers (B2C).
Compellio’s innovative DPP solution
In this sense, the Luxembourg-based software company Compellio has unveiled an innovative multi-sector DPP solution that leverages blockchain, verifiable credentials, and decentralized identity technologies. This new approach promises unprecedented levels of accountability and transparency within intricate supply chains.
Although it was initially intended for circular supply chains within the construction industry, Compellio has extended its spectrum to accompany companies and public administrations. Indeed, the software company’s patented technology helps the latter to address critical privacy, scalability, and interoperability requirements.
“Analyzing our customers’ needs across a broad spectrum, from digital transformation to regulatory compliance, we observe that there is now maturity in blockchain technology for specific business opportunities and applications. Digital passports are one of them” – Antonis Cassano, Business Development & RDI Director (Uni Systems)
Now, thanks to the EU Blockchain Sandbox’s support, Compellio and Uni Systems are poised to deliver a wide range of advantages to both private and public organizations:
- Seamless integration: the integration of blockchain technologies with existing IT systems will become more straightforward, ushering in a new era of digital transformation
- Enhanced verifiability: data and process workflows will be easier to verify, fostering trust and transparency in operations
- Robust risk control: heightened risk controls pertaining to third-party disclosures will enhance data security
- Regulatory compliance: as streamlined compliance with Eu standards and regulations will become the norm, the idea here is to reduce complexity for businesses
“We are particularly pleased to collaborate with Uni Systems in the strategic initiative of the EU Blockchain Regulatory Sandbox. Leveraging on our new Compellio DPP service and patented technology for bridging traditional IT systems with blockchain infrastructures, we effectively answer the market need for enhanced traceability, transparency and regulatory compliance” – Denis Avrilionis, Founder & CEO (Compellio)
Overall, from 2023 to 2026, the Sandbox plans to support 20 projects per year, including public sector projects leveraging the European Blockchain Services Infrastructures (EBSI). This shows that the EU takes bold steps toward fostering innovation and sustainability, notably through blockchain technology.