Feds invest in digital tracing for steel supply chain
Funding for two firms will support a proof of concept for a using blockchain and artificial intelligence.
OTTAWA — Two Canadian companies will develop a proof of concept for a digital tracing system enabled by blockchain and artificial intelligence for the Canadian, and possibly North American, steel supply chain.
Innovation, Science and Economic Development Canada says this digital tool seeks to capture activities across the steel supply chain to provide government and industry users with better information on supply and demand, origin, and the quality of inputs and outputs.
Peer Ledger Inc., based in Halifax,, and Mavennet Systems Inc., based in Toronto, will each receive an investment of up to $150,000 through Innovative Solutions Canada, a program that invites Canadian small businesses to develop solutions to address government challenges.
The funding will support research and development activities to build a prototype specific to the steel supply chain. If selected to continue to the program’s next stage, one of the two companies could receive up to $1 million over two years to refine its prototype.