Volvo Group Created Proprietary Cryptocurrency for Internal Supplier Payment Testing, Cardano Foundation Reports

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According to the Cardano Foundation, Volvo Group developed a proprietary cryptocurrency for internal testing of supplier payment processes. Ivan Branco, head of information management, AI and data analytics for Volvo's Belgian truck business, highlighted supply chain compliance as a key blockchain use case. He noted that shared ledgers among suppliers could eliminate trust issues from the source and mitigate risks such as repeated fines from unintentionally sourcing components from sanctioned countries.
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