Melbourne- and Berlin-based CircularTree is Leveraging Distributed Ledger Technology for Collaborative Safety, Compliance, and Sustainability Management
Submitted by: iPoint-systems gmbh
Posted: Aug 01, 2018 – 09:00 AM EST
MELBOURNE, Australia and BERLIN, Aug. 01 /CSRwire/ - How can we harness blockchain technology to make the world a better, safer, more sustainable place? Driven by this question, three top managers joined forces to launch the startup CircularTree. Gunther Walden, who held several Senior Management positions at Siemens in Germany and the US, Maroye Marinkovic, a former marketing and product development manager at Chemwatch, and Joerg Walden, CEO and co-founder of iPoint-systems, founded CircularTree with one common goal in mind: to focus on exploring business models and solutions made possible by Blockchain technology which make it simpler, safer, and more efficient to manage compliance and sustainability responsibilities in the supply chain.
“Building on the distributed ledger technology, we are making it possible for any supply chain participant, human or machine, to provide, consume, and monitor accurate and verified product compliance information “, states CircularTree CEO and co-founder Gunther Walden. “However, unlike other blockchain startups, CircularTree does not aim at disrupting the market. We want to go beyond the blockchain hype and common disruption promises to provide sustainable, long-term solutions open to the integration of technologies such as AI or IoT, Machine Learning, robotics, etc.”
Maroye Marinkovic, COO and co-founder of CircularTree, confirms: “We don’t think that disruption can be achieved systematically by design. Even though the hype will go down, I strongly believe that Blockchain technology is here to stay and that it is an important enabler of other technologies, Maroye continues, who in his previous role as product manager at Chemwatch launched a suite of SaaS products which catapulted the company into the top three Product Compliance Solution Providers. “I also view Blockchain as an essential tool to support supply chain actors in providing, consuming, and monitoring verified and traceable product compliance information, and this approach forms the foundation of our initial projects.“
CircularTree is currently working on two projects: HazChain and SustainBlock. HazChain aims at reducing the complexity of managing knowledge about chemical hazards and potential risks. It uses the Blockchain to open up chemical safety data to the supply chain, allowing every participant at every stage – from manufacturing to use, waste disposal, recycling, and, re-use, along with everyone else in between –, to leverage verified and compliant chemical safety information for ensuring that compliance is achieved wherever the product or material is used, stored, recycled, or disposed of. Building on Blockchain technology, CircularTree will create an ecosystem where communication of chemical safety and compliance information is standardized, immutable, and time-stamped.
SustainBlock utilizes blockchain technology for Conflict Minerals traceability. In this project, which is funded by the European Partnership for Responsible Minerals (EPRM), CircularTree is supporting iPoint-systems in establishing a traceability process from mine to store, thereby demonstrating end users’ accountability for the upstream due diligence process. By doing so, Blockchain-based traceability and data reporting onto a decentralized network will be used, providing all supply chain participants – from upstream to downstream and end-users – access to reliable and verified information on all relevant stages of the supply chain.
“With the SustainBlock project, we are going beyond the current Blockchain hype to make a positive, sustainable impact on the ground “, emphasizes Joerg Walden, strategic advisor and co-founder at CircularTree as well as CEO and founder of iPoint-systems, a leading provider of software and consulting for environmental and social product compliance, and sustainability. “It is no coincidence that we chose this year’s Earth Overshoot Day for our CircularTree announcement. Sadly, this day is at an earlier date every year, and we are actively working on moving this date by accompanying manufacturing companies on their way to sustainability so that we can all thrive within the budget of our one planet “, Joerg continues. “Driven by the vision of how today’s solutions can contribute to securing a sustainable world for future generations, I strongly believe that Blockchain can play a decisive role in improving companies’ social and environmental impact. I am very excited about this new venture and look forward to our joint projects aimed at making the world a safer, more sustainable place with the help of Blockchain technology.”
Founded in June 2018, the Berlin- and Melbourne-based startup aims at leveraging Blockchain technology to make the world a better, more sustainable place by supporting companies to achieve sustainable supply chains and products. Further information: www.circulartree.com
iPoint is a leading provider of software and consulting for environmental and social product compliance, and sustainability. More than 50,000 companies around the globe rely on iPoint for managing, tracking, analyzing, and reporting data across the whole value creation network. iPoint’s software and consulting services support companies in meeting and staying one step ahead of regulations and requirements such as REACH, RoHS, WEEE, ELV, EHS, Conflict Minerals- and Modern Slavery-related laws, as well as other trending developments and challenges governing product, supply chain, and enterprise stewardship. iPoint’s holistic, circular perspective envisages a continuous, digital system lifecycle management process that supports not only compliance with the law, but also the sustainability of products, value chains, and brands. Since its founding in 2001, iPoint has been constantly expanding the iPoint Group and its solutions portfolio to realize its vision of building an integrated digital platform for the Circular Economy and a holistic sustainable operating system. Further information: www.ipoint-systems.com
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