Here comes the ECO Chain: Mitsubishi subsidiary implements blockchain solution

The precious metals and minerals division of the Japanese automotive company Mitsubishi is planning to implement a blockchain. What that means for technology. Mitsubishi Corporation RtM Japan Ltd., a subsidiary of the Japanese car manufacturer Mitsubishi, is entering the blockchain race. As the company announced in a press release on August 10, the so-called ECO system will soon be launched across the company. The Mitsubishi subsidiary, which is responsible for precious metal and mineral supply chains, is getting support from the USA for the implementation. Because ECO is based on the EC3 Platform from Skuchain, Inc, a blockchain company that specializes in promoting blockchain applications in supply chain management. The supply chain blockchain liquid comes from Skuchain.As expected, the subsidiary of the sixth largest automobile manufacturer in Japan wants to optimize its supply chains with the ECO Chain. As can be seen from the communication, efficiency plays a greater role than the ethical origin of the raw materials.

Blockchain back on the map
Nevertheless, the news joins a number of reports on the implementation of blockchain solutions in the industry. Just bearing the word blockchain in the company name seems to be a trend. Finally, we recently received the news that 10,000 more companies with the suffix blockchain were founded in China this year alone. Mitsubishi itself is no longer a blank slate when it comes to distributed ledger technology. The Mitsubishi UFJ Financial Group, for example, has been working on its own stable coins for some time, as we report here.