$ 1,229.38 7.10%
$ 42.28 10.41%
$ 0.068403 5.11%
$ 4.62 5.47%
$ 21,434.00 2.98%
$ 239.21 3.14%

Blockchain Technology and Forestry, a good merger in Spain

spain ready for crypto

Blockchain Technology and digital currencies have found their way to enter in Forestry industry. Recently the Ministry of Agriculture and food has broadcasted the acceptance of digital currency to grow its Forestry industry in Europapress on September 21, 2018.

Chain Wood, the functioning group of Forestry`s primary focus is to enhance the competency and effectiveness of the wood supply through blockchain technology. This functioning group is consist of eight associates from diverse places in Spain. The regions in Wood Chain are Galicia, the Community of Madrid, Andalusia, Castilla y León, and Asturias.

Spanish Ministry of Agriculture and Food initialized this group by funds raised by different departments of Ministry like State Administration, Forest policy, etc. It succeeded in raising a total of 93,350 euros. Chainwood arranged its first meeting in Santiago de Compostela to discuss the transparency issues. For this, the software has been developed by the group to solve the transparency issues, named cloud-based. This programme will expand the transparency of processes like solid wood`s creation, biomass, and cellulose paste through blockchain technology.

ChainWood will transmit the sample trail after the manufacturing of the exchange. The trail will be run on poplar, chestnut, and oak tree from Castilla, Asturias, and Galicia respectively.

Other countries of the world have included blockchain technology in their forestry industry recently. Like China signed an agreement in August to create a new company for its forestry industry. The new company Hangzhou Yi Shu will perform its function by using blockchain technology. Furthermore, the Catalonian Government has also decided to provide digital facilities to general people by using blockchain technology.

Saad B. Murtaza

Saad B. Murtaza

Journalist, Writer, Editor, Researcher, and Strategist with over 10 years of experience in the digital, print and public relations industries, Saad has been working with the mantra, Creativity, Quality and Punctuality. In his waning years promises to build a self-sustaining institute that provides free education. Carrying a diverse portfolio he has studied and written on topics related to cyber crimes, scams, blockchain, and cryptocurrencies.

Related News

Hot Stories

Crypto News Alert – A New Meme Coin That Will Process 50,000 Transactions Per Second
Cryptocurrency Investments To Make in a Bearish Market - Shiba Inu (SHIB), Dogecoin (DOGE), and RoboApe (RBA)
ISO 20022 compliant crypto-list
Shiba Inu price analysis: SHIB expected to stay bullish for the next 24 hours
Bitcoin price analysis: Seller exhaustion makes BTC/USD knock at $21k resistance

Follow Us

Industry News

Margin calls and bot liquidations add chaos to crypto as its market cap hits $964b
Bitpanda lays off workers amid the market decline
Coinbase to launch Nano BTC features aimed at retail traders on June 27
Namibian University will offer master's degree in blockchain technology soon
Uphold announces restriction of Venezuelan users