A partnership has been formed between biofuel platform UCO Network and public blockchain VeChainThor to build infrastructure for the global used cooking oil (UCO) industry, UCO Network announced.
Using a combination of blockchain and IoT technology to reduce the risk of UCO supply chain fraud, UCO Network provides traceability solutions with a focus on automatic compliance with the European Union (EU)’s Renewable Energy Directive (RED) II.
VeChainThor offers meta-transaction features such as multi-party payment, multi-task transaction, controllable transaction lifecycle and transaction dependency.
The wide range of open-source tools offered by VeChainThor helped start-ups such as UCO Network integrate and develop blockchain at low cost and low lead time, UCO Network said on 16 September.
