BVRio timber trading

BVRio, a Brazilian organization that promotes environmental laws and a green market economy, announced a partnership with Regis, an application to build decentralized registries on the Ethereuem Blockchain.

Through these registries, BVRio will prevent tampering within their shipments. Regis was released in April by the venture production studio ConsenSys. The decentralized registry is one of many decentralized applications developed through the New York-based studio.

BVRio will be Regis’ first client. In a statement from ConsenSys:

“BVRio has a strong presence in the timber trading sector and, since illegal timber trading is a global issue, particularly in Brazil, transparency is mandatory. In order to improve the organization’s process for trading overview, Regis will provide transparent records of the reports that each timber shipment is given.”

In order for a shipment to be completed, a rating must be provided. This rating is determined by the origin of the timber, how it was produced, and the process of the shipment. Ratings depend on the accurate price for each shipment.

Producers will contact BVRio about the possible change in their score. The organization is left with a problem unable to prove tampering of the shipments.

“As time has passed since the report was published, producers are often unsure of why the score for a given shipment changed and doubt that the score wasn’t altered internally. BVRio cannot prove that the records have not been changed since they were produced because the company has full control of the database,” ConsenSys explains.

By using Regis, the registry will provide the transparency needed to prevent and catch any manipulations. This new partnership will allow BVRio and its customers to build a stronger and trusting relationship. 

New Hampshire native, Danielle Meegan, is a writer based in Los Angeles. She has been published in a couple of sports and entertainment magazines and newspapers throughout the years and has dabbled with multiple virtual currency exchanges to understand the 'ins and outs' of trading. Danielle has invested in over 15 different virtual currencies, including Ether.
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