"The project to establish the Blockchain Institute will create a unique European institute at Fraunhofer IML that will drive forward digitalization in science and practice. As a key technology, blockchain has the potential to make data exchange tamper-proof and to automate and autonomize a large number of processes in the value chain in the future," says Prof. Michael Henke, Director of Fraunhofer IML, describing the importance of the technology. As transparent and decentralized registers for transactions, blockchains play a key role in the digitalization of the economy. They make the sensible use of numerous other technologies possible in the first place.

The research at the European Blockchain Institute thus complements the work of the Dortmund scientists and ties in directly with the existing research infrastructure at the science location: "Blockchain technology will only unfold its full impact in the coming years and this will happen in logistics. In combination with digital platforms, artificial intelligence and the Internet of Things, a new and self-organizing 'Silicon Economy' is emerging. We are delighted to have brought the European Blockchain Institute to the heart of European logistics - because that is where it belongs," explains Prof. Michael ten Hompel, Managing Director of Fraunhofer IML.

Over the next five years, the scientists will be working on open source solutions in the form of software, hardware and business models relating to blockchains. They will develop these for and with companies of all sizes. In logistics and supply chain management in particular, many different, economically independent partners work closely together, but do not necessarily trust each other. The focus of research is therefore on open and holistic solutions that can be used by all players on the market. The aim is to connect entire logistics chains digitally from end to end.

"We are facing a new stage in the digitalization of the economy. Technologies such as blockchain, the Internet of Things and artificial intelligence are fundamentally changing the way we do business and opening up completely new opportunities for companies. The European Blockchain Institute will decisively advance the logistics sector in North Rhine-Westphalia in particular and make an important contribution beyond the borders of our state," emphasizes NRW Minister of Economic Affairs and Digital Affairs Pinkwart.

The EURO-CHAIN project consortium consists of the Dortmund Fraunhofer Institutes IML and ISST as well as the Chair of Corporate Logistics and the Chair of Materials Handling and Warehousing at the Technical University of Dortmund. 25 employees are to be employed at the institute in the future. Following the project period, it is to be established as a sustainable and permanent institution.

You can find out more about funding here: https://www.wirtschaft.nrw/pressemitteilung/landesregierung-foerdert-europaeisches-blockchain-institut-mit-77-millionen-euro