TORONTO – A successful pilot project recently saw cashmere tracked through the Mongolian supply chain using blockchain technology. The pilot was run as part of the United Nations Development Programme under its Sustainable Cashmere Project. Through the programme, UNDP is working with Mongolian cashmere producers to develop global markets and, it is hoped, help them achieve better prices for their produce.
The UNP partnered with Canada-based Convergence.tech for the blockchain pilot, which saw Covergence use blockchain technology to interact with more than 70 different herders and eight cooperatives.
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