BE Blockchain and SettleMint sign a strategic partnership to combine blockchain infrastructure and consultancy expertise, accelerating blockchain innovation in the enterprise space.
BE Blockchain and SettleMint, two innovative leaders in blockchain technology, are proud to announce their new strategic partnership. This alliance will combine BE Blockchain’s consulting and development expertise with SettleMint’s Blockchain Transformation Platform (BTP) and experience, offering comprehensive solutions tailored to meet the specific needs of businesses.
This partnership follows the successful collaboration on the Walloon blockchain demonstrator project supported by the DigitaWallonia4Trust program as part of the Wallonia Recovery Plan (More info on the program).
Addressing the Challenges and Complexities of Technological Integration in Enterprises
Integrating new technologies, such as blockchain, into the core of a company’s operations can be complex. A PwC report shows that 69% of executives believe their technology investments often fall short of expected outcomes. For example, while 70% of companies have experimented with generative AI, only 20% are using it extensively. The focus remains on cost reduction and efficiency, but few are investing in strategic long-term innovations like blockchain.
Furthermore, less than a third of companies are prioritizing the evolution of their workforce’s digital skills, and investments in holistic solutions, such as a blockchain consortium, are still rare, despite their potential. These findings underscore the challenges enterprises face when integrating new technologies.
Partnership Objectives
The primary objective of this partnership is to provide end-to-end blockchain expertise. BE Blockchain offers expertise in business analysis, diagnostics, design, and development, while SettleMint’s Blockchain Transformation Platform simplifies the secure development, deployment, and integration of blockchain solutions within enterprises.
Key Benefits
This partnership is particularly beneficial for private consortium projects, commonly used in sectors such as logistics, information notarization, and ESG reporting. SettleMint’s BTP allows easy deployments of blockchain networks and enables partners to join it with just a few clicks.
Creating a private blockchain network can be complex, especially for organizations that do not always have the necessary IT resources and expertise. SettleMint simplifies this process, handling updates, maintenance, and node management much easier.
Putting a PoC (Proof of Concept) or MVP (Minimum Viable Product) into production is also much faster, enabling solutions to be tested directly, reducing risks and accelerating time-to-market.
Areas of Expertise and Targeted Sectors
- Supply Chain: Blockchain increases transparency and trust across the supply chain by securing and synchronizing the exchange of data between players. According to PwC, 62% of supply chain companies are investing in technologies like blockchain to enhance their operations. Furthermore, almost 80% of participants in a McKinsey study indicated the need to improve and invest in digital planning to increase supply chain visibility. Multi-level transparency is critical, yet 54% of executives lack visibility beyond the first level of their supply chains, which can lead to significant losses in the event of disruption.
- Digital Product Passport (DPP): The European DPP initiative aims to improve the sustainability of products by tracking their life cycle. Scheduled to run from 2026 to 2030, this regulation will apply to batteries, chemicals, construction, electronics, ICT, furniture, plastics and textiles. Blockchain will support data collection and security, enhancing transparency and regulatory compliance.
- ESG Reporting: Coupled with supply chain management, blockchain strengthens ESG (Environmental, Social and Governance) reporting by enabling data to be secured and traced, ensuring total transparency and verifiability. This facilitates regulatory compliance and strengthens stakeholder confidence in the company’s ESG statements.
- Banking & Fintech: Blockchain technology enhances the security and efficiency of financial transactions by automating processes and reducing errors associated with manual inputs. According to McKinsey, blockchain solutions could save banks up to $4 billion annually by improving cross-border payments and operational efficiencies. Furthermore, blockchain-based customer onboarding solutions can save the global retail banking sector up to $1 billion in operating costs and reduce regulatory fines by $2 to $3 billion. Additionally, these solutions are expected to cut fraud-related losses by $7 to $9 billion annually.
- Tokenization: Blockchain enables the tokenization of assets, offering new investment and liquidity opportunities. Tokens can represent shares, real estate or other assets, making the investment process more accessible and transparent.
- Energy: Blockchain enables energy transactions to be managed transparently and securely, facilitating the integration of renewable energies and smart grids. Tokenization of carbon credits is an emerging use case. The green certificate market also stands to benefit from blockchain’s ability to secure authenticity and prevent double counting.
- Insurance: Blockchain simplifies claims processing, reduces fraud, and improves operational efficiency. Accenture predicts that blockchain could drastically lower insurers’ administrative costs.
About SettleMint
SettleMint is the Blockchain Transformation Company that connects the dots between people, processes and technology to accelerate value creation with blockchain. It enables enterprises to easily and rapidly build and integrate blockchain applications, while empowering teams with the skills, knowledge, methodologies, guidance and ongoing support they need. To learn more, visit SettleMint’s website here.
The Beginning of a Strong Partnership
The partnership between BE Blockchain and SettleMint represents an important step forward in the enterprise adoption of blockchain technology. By combining their expertise, the two companies are well-positioned to accelerate blockchain adoption in enterprises that address the unique needs of businesses, simplifying the deployment and management of blockchain networks. For more information on the solutions offered by BE Blockchain and SettleMint, and to discover how blockchain can transform your business, visit our pages dedicated to supply chain and digital product passport.
