Steel Company Alukönigstahl Of Austria Developing Steel Trading Database Using Blockchain
Steel company Alukönigstahl of Austria is planning to develop a steel trading database system using blockchain technology reported on 13 June 2019.
According to the report, “STEEL but SMART,” named steel trading database is developing by the Alukönigstahl CEO Stefan Grüll by using the blockchain technology with the business model of aiming traditional use cases.
individual testimonials that are subject to statutory retention requirements and contain information on test and test results are linkable
– Alukönigstahl CEO, Stefan Grüll
The company wanted to develop a single data source of the production history, where the database system will organize the data on steel products’ origin, account and industry standards, as well as information about product properties, processing, and deployment.
By the way, Grüll takes his attention towards the use of a single “data structure based on certain standards.” before implementing the product as it is important to form a consortium of stakeholders, steel manufacturers, plant builders, steel mills, and manufacturers of steel test equipment.
As per the report, It is anticipated that the database system based on blockchain tech will be successfully developed until the end of 2019.
Previously, World’s first crypto stamp has been launched by the post service of Austria country as per the report on 11 June 2019.
