Why the chemical industry is driving blockchain technology?
It is estimated that around 322 million tons of harmful and toxic industrial chemicals are produced every year across the European Union alone. These harmful chemicals possess several health risks and potential damage to the environment. Legal regulation and complicated disposal or reprocessing of contaminated liquids are negative factors on the balance sheet. A huge global market of more than €50bn of harmful wet chemistry is waiting to be challenged and replaced.
Most of the industries are on the brink of radical change: until now, businesses were relying on business partners for dealing. With smart contracts and blockchain, this trust is replaced by knowledge, because the blockchain displays all facts relating to goods, payment transactions, or transport in a fully automated, forgery-proof manner.
The chemical industry is one of the major drivers of blockchain technology. The main reason for fostering this is that the chemical industry is developing tracer technologies, which are necessary to create digital representatives of physical objects that can be stored immutably in the blockchain. Second, the chemical industry is the origination of many supply chains in the world and deals with the entire manufacturing industry around the world.
Some of the applications of blockchain in the chemical industry can be tracking processed chemicals and thus, ensuring product quality for customers. From the sourcing of raw materials to manufacturing to the arrival of the goods at the customer’s site – all of this supply chain data can be stored, analysed, and tracked.
Fostering Commodity Trading
New Avenues for Manufacturing
3D printing is proving to be another revolutionary technology that is moving the manufacturing process closer to bulk customisation. In particular, the chemical industry can benefit from developing customised proprietary formulations and systems. However, a much-discussed and unresolved issue is intellectual property protection. Similar to the way music is shared, 3D printable digital blueprints are shared illegally and/or unknowingly, either within a company or by outside hackers. In addition to these digital files, users can print moulds from scanned objects and mass-produce exact replicas that are protected under copyright, trademark, and patent laws.
Validating Asset History and Employee Qualification
Tracking Information for Improved Integrity and Accuracy
Some segments in chemicals are threatened by counterfeiting. Blockchains as a single ledger can verify the integrity of a product, as the record can be traced back to the product manufacturer and the manufacturer of its precursor agents.
Competing as an Ecosystem
M&As activity has been on the rise in the chemical companies’ sector. These companies are spun off and their parent, but they still may not have the R&D know-how, business relationships, and brand recognition of parent companies.
What is the green chemistry blockchain project?
The blockchain technology that started with Bitcoin has garnered high interest in various sectors. They are presenting ways for digitally transferring value without the usual necessary intermediaries, for various industries. For example, cutting out the intermediaries in money transfer operations can enable double-digit cost savings in processing fees.
At the same time, inherently digital processes can empower near real-time transactions at marginal cost, which sparks entirely new ways of how value and ownership are transferred between humans or corporations, but even down to plants, units, equipment, and machines.
A green chemistry project is turning to blockchain technology to encourage the chemical industry to transition to eco-friendly products.
Intelligent Fluids, a Leipzig-based company, has come up with ground-breaking, sustainable, efficient, and powerful solutions for industrial cleaning by utilising physical effects instead of toxic chemicals, meeting much more than today’s standards for eco-friendliness with biodegradable, non-inflammable, and pH neutral ingredients. Intelligent Fluids combine outstanding performance with a remarkable eco-footprint to provide a unique and innovative technology. So top functionality runs in parallel with top sustainability.
Intelligent Fluids GmbH has its focus on three sectors: microelectronics, maintenance, and oil & gas. Based on the unparalleled technology, and portfolios of high-performance technology, it develops convincing and customised solutions for each sector and, in the following, provides global customers with significant competitive advantages in their particular segments.
Intelligent Fluids already have a wide variety of powerful smart liquids in their portfolio. The existing product portfolio covers photoresist strippers, adhesive removers, colour and graffiti removers, industrial cleaners, lubricants, and rust looseners with important uses.
What is SMAC?
Intelligent Fluids plans to raise funds through a token sale to boost the company’s growth and achieve a significant global market share. Participating in the token sale will allow customers to invest in the next generation of industrial cleaning, gain exponential returns from a rapidly-growing market by having an early movers advantage, while also contributing to a cleaner, healthier planet. An added benefit from the reduction of the total cost of ownership and thus higher yields. Smartchem investors will benefit from increasing coin value.
Intelligent Fluids has set ambitious goals for the next ten years, thus benefiting all the investors. Currently, the company has footprints in Germany and Europe and is in plans to expand production facilities sites to reach other markets in Asia, the USA, and the Middle East and African areas. They plan to increase their current production figure 500 tons per year to more than 13,500 tons per year in Europe. In a big leap to expand its footing in the microelectronics and maintenance space, Smartchem plans to dive deeper into its next promising sector – Oil & Gas.
The native token of Smartchem, SMAC token, is based on the ERC-20 token standard, which supports smart contracts. There is a SMAC token airdrop going on – in which a total of 145,000 SMAC tokens will be sent to users. The first 1,000 users will get 50 Free SMAC tokens, the next 1,000 will get 40 Free SMAC tokens, the next 1,000 users will get 30 Free SMAC tokens, and the last 1,000 users will get 25 Free SMAC tokens.
How does Intelligent Fluids take advantage of blockchain technology?
As explained above on how blockchain can be used as an option for fundraising for the chemical industry, it will use the contemporary financing concept to launch Smartchem (SMAC), a Utility Token Offering from November 2021 on.
The more intelligent fluids will grow globally, the more demand for SMAC Token from companies who want to change to Green Chemistry will be initiated. Redeemed Token for discounted Green Chemistry purchases will be burnt to reduce the amount of SMAC in the market and to increase attractivity of the coin.
Hopefully, you have enjoyed today’s article. Thanks for reading! Have a fantastic day! Live from the Platinum Crypto Trading Floor.
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