Explore how iov42 | Interu and Orbify are revolutionizing traceability and compliance in the fight against deforestation. This case study highlights their collaboration, showcasing advanced geolocation analysis and data integrity solutions that help companies meet EUDR regulations. Learn about the workflow, benefits, and future plans of this partnership driving transparency and sustainability.
iov42 is at the forefront of technological innovation, specializing in digital identity, trust, and data integrity. Their state-of-the-art technology is designed to help organizations, governments and societies coordinate confidently by enabling proven, transparent and secure transactions in a decentralized and immutable manner.
An evolution of their traceability product, Timber Chain, iov42’s Interu demonstrates how the fundamentals of this technology can be applied to enhance traceability across a range of commodities, countries, and use cases, with a particular focus on incoming deforestation regulations such as the EUDR.
The state of deforestation globally remains a critical environmental issue. The World Resource Institute reports that in 2023, the world lost almost 10 football fields of tropical primary forest every single minute, equating to 3.7 million hectares over the year.
While iov42's technology can be applied to multiple sectors, they are currently focusing on supporting operators in Europe and producer nations to meet deforestation regulations. They do this through their traceability solution, Interu, where users can securely collect, store, manage, and share the necessary due diligence information required to achieve compliance.
The growth of due diligence and risk assessment requirements has led to a massive increase in the volume of data exchanged and analyzed across complex supply chains. Most organizations facing such regulations still rely almost entirely on spreadsheets, emails, and shared drives to manage their data. These methods are simply not fit for purpose for compliance demands. The need for a secure and scalable system has never been more paramount.
The Interu tool is a powerful enabler to help companies reach compliance, among other benefits. However, combining best-of-breed solutions is vital to creating strong ecosystems of trusted partners that will help combat deforestation and improve due diligence.
As the countdown to the EU Deforestation Regulation (EUDR) gets closer, the number of ‘EUDR product’ providers has boomed. According to the iov42 team, Orbify stood out among the competition for several reasons, particularly considering users’ needs for deforestation and land degradation analysis at the point of harvest.
As explained by the iov42 team, Orbify understands the policy requirements and has built a product specifically to serve those needs rather than retrofitting or requiring users to create their own workflows. Orbify's compliance product was advanced to the extent that it was usable right away; iov42 team didn’t need to look at proof of concepts but could explore their API immediately!
Additionally, as mentioned by iov42, Orbify’s technical team took on board iov42’s unique requirements and implemented them rapidly, making the collaboration open and fruitful. By partnering with Orbify, iov42 has strengthened its ability to provide comprehensive and effective traceability solutions, ensuring that users can meet stringent deforestation regulations and achieve compliance with confidence.
To demonstrate how Orbify's platform is helping iov42|Interu solve their main challenge, here is a detailed look at the workflow and benefits of this collaboration:
Step 1: Interu captures point of harvest geocoordinates from users (or their suppliers)
Step 2: Requesting Near Instant Analysis
Users can request a near instant analysis of the plot of land through Interu. Thanks to the technical integration between Interu and Orbify, users benefit from commercial economies of scale and streamlined coordination of information. All data is saved securely in one place, rather than being dispersed in different formats and locations.
Step 3: Assessing Deforestation and Land Degradation Risk
Based on Orbify’s analysis, users can assess deforestation and land degradation risks. The analysis is saved and can be proven to have been reviewed by the user. This analysis can also be shared securely, ensuring all stakeholders have access to verified data.
As mentioned by iov42, they have achieved significant milestones with the Orbify integration in a short period and will continue to benefit from the rapid evolution of Orbify’s roadmap. The future plans involve continuing this productive collaboration by sharing ideas and feedback originating from users and understanding if Orbify can accommodate them. Orbify’s capabilities extend beyond deforestation and land degradation analysis to include biodiversity scores, soil quality, carbon value, and more. Depending on user needs, iov42 aims to bring these additional analyses to the organizations being supported.
“Our strategic alliance with Orbify allows Interu users to benefit from the additional analysis which will support them in meeting regulations like the EUDR. We are already seeing the benefits these partnerships have brought to our customers and believe they are crucial in our global quest to combat deforestation.” Dominic von Trotha Taylor, CEO and Chairman at iov42
Are you looking to solve the challenges of deforestation and compliance? Discover how Orbify's platform can help you achieve your goals just like it did for Interu.
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