EU-funded TRICK Project Will Use Quadrans Blockchain

NEW YORK, NY, Oct. 05, 2022 (GLOBE NEWSWIRE) — The Quadrans Foundation, as part of the TRICK Consortium, will provide the blockchain technology infrastructure for the new platform’s design and will use Truebit to achieve TRICK’s development goals.

TRICK Project (product data traceability information management by blockchains interoperability and open circular service marketplace) was funded by the European Union’s Horizon 2020 research and innovation programme (GA 958352) with € EUR 8 million in contributions and the aim of creating a blockchain-based, standardised platform to enable textile and food companies to collect product-secured data.

The project started in May 2021 with a duration of 42 months and is supported by a consortium of 32 partners from 8 EU countries and 3 extra EU-eligible countries, coordinated by Fratelli Piacenza S.pA. Italian top brand in luxury fabric manufacturing and the participation of public institutions such as ENEA, the Italian National Agency for New Technologies, Energy and Sustainable Economic Development and ADM, the Italian Customs and Monopolies Agency.

Within the TRICK Consortium there is the Quadrans Foundation, a non-profit organisation under Swiss law that conducts research and development of the Quadrans blockchain: an open-source, public, decentralised smart-contract-based blockchain with a specific focus on the needs of industry, complex supply chains, and IoT devices.

For its unique characteristics, the Quadrans blockchain has been chosen to be a central technology for the TRICK infrastructure and the Quadrans Team, together with UBITECH, is committed to leading the “Design and Implementation of Blockchain Integration and Interoperability” (Work Package 3 Tasks 3.3).

As Quadrans works together with the TRICK Consortium, the main goal of the partnership is to create a safe, secure, and reliable blockchain-based platform that will help standardise the services for the textile and food…