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Wednesday, 15 March 2017

Propentus provides trust in SmartLog - the project for IoT blockchain solution in logistics industry

Propentus Oy and OCTO3 Oy, after having been tendered as sub-contractors for the SmartLog project, have started developing a blockchain-based application which will greatly enhance the sharing and distribution of operational information in the logistics and supply chain business.

”The concept we are developing will connect the databases and information management systems of the companies operating in the logistics and supply chain business in a way never seen before. This makes it possible to create significant cost savings and increases in the transport speeds across the transport corridors”, says the project leader of SmartLog Mika Lammi from Kouvola Innovation Oy, Finland.

The industry-specific problem in the logistics business has for a long time been the poor state of standardization and shareability of the operational information. This has, especially in the longer transport corridors, led to inefficiencies and poor utilization of resources. The goal of the SmartLog project is to reduce the overall transport times on two main European TEN-T network transport corridors, Scandinavian-Mediterranean and North Sea-Baltic. 

"Our know-how in technology and integration with the broad understanding of information security is needed in this project, since processing of data beyond organization limits in real-time requires undisputed reliability", describes Propentus' CEO Tomi Hautala.  

Finnish regional business development company Kouvola Innovation Ltd leads and coordinates the project. The work itself has been divided into three main areas of responsibility: the recruiting of the pilot companies, their support and guidance is led by Estonian Sensei Ltd, academic research, data collection and analysis is led by Tallinn Technical University, and the development of the blockchain-based software solution is led by Kouvola Innovation Ltd. In addition to Kouvola Innovation, the other project partners are the Örebro region from Sweden, Transport and Telecommunication Institute from Latvia, and Valga regional development agency, Sensei Ltd and Tallinn Technical University from Estonia. 

The project SmartLog has also agreed on close collaboration with a research project DSC Core, led by Finnish-based Lappeenranta University of Technology. Both projects share and serve a joint set of pilot organizations, amongst which are some of the leading industrial, financial and ICT sector companies. There are also five leading logistics companies from Estonian who have expressed interest to join the project. 

SmartLog project has been funded by the European Union Interreg Central Baltic – programme and the participating project partners. Its overall budget among six partner organizations and for the duration of three years is 2,2M€. The project was launched in September 2016.

 

More information:

Mika Lammi, Head of IoT Business Development
Kouvola Innovation Ltd
p. +358 (0)20 615 6624, mika.lammi (at) kinno.fi

Tomi Hautala, CEO
Propentus Ltd
p. +358 (0)40 055 3697, tomi.hautala (at) propentus.com

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