Volvo Group Tests Proprietary Cryptocurrency to Optimize Supply Chain

According to U.Today, Ivan Branco, Head of Logistics Information Management at Volvo Group, recently disclosed that the company is developing a proprietary cryptocurrency for supplier transaction settlement. Volvo tested the currency in a closed environment, aiming to unify the transaction process between material suppliers, transportation suppliers, and Volvo with a single cryptocurrency, and record all transportation order information through a blockchain ledger to simplify information exchange and improve supply chain collaboration efficiency.