Improving supply chain traceability with blockchain: Stephan Nilsson joins CoinGeek Weekly Livestream

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Stephan Nilsson is a Swedish entrepreneur and the co-founder of UNISOT, one of the most promising companies utilizing the BSV blockchain. This week, he joined CoinGeek Weekly Livestream to discuss how his firm uses the decentralized public ledger to improve supply chain traceability.

Stephan Nilsson’s Bitcoin story

Nilsson is somewhat of a Bitcoin OG, having been involved with it since the early days. He tells Wuckert he first came across it when he picked up a copy of Wired magazine at an airport in Copenhagen. The idea of a time-stamped decentralized ledger immediately struck him as powerful, and it wasn’t long before he read the Bitcoin white paper.

Nilsson had been into computing and fringe technology for years before discovering Bitcoin. He recalls how he used to play around with ham radios and computers. He fondly remembers broadcasting computer-generated messages across the radio and tuning into early bulletin boards on his radio.

As he traveled the world as a consultant, Nilsson realized companies had a problem: they had to securely exchange information such as invoices, orders, bills, etc. He decided to build a centralized database to help with this and eventually realized he could use the blockchain he had read about in that white paper a while back.

Launching UNISOT

Eventually, after building a prototype vending machine that could accept Bitcoin, Nilsson quit his job at Ernst & Young and began building UNISOT—short for Universal Source of Truth. They launched their seafood solution at the CoinGeek Conference back in 2020. Since then, they’ve developed solutions for all kinds of industries.

UNISOT utilizes digital twins, smart contracts, and token functionality for asset traceability. This will become especially relevant in the EU from 2026 onwards after new laws kick in that require all products to have a digital passport.

Yet, UNISOT won’t have to wait until 2026 to get clients. It has already penned a deal with Global Standards 1 (GS1), the organization behind unique numbers (GTINs) in barcodes. He says they will soon switch to QR codes, and UNISOT has the remit to handle South America. Right now, it’s running multiple pilots. GS1 will also promote and sell UNISOT products to their clients.

“We are not selling blockchain solutions to our clients. We are selling a supply-chain traceability platform,” Nilsson said.

UNISOT’s unique selling point is that it uses a public blockchain that has been around for 15 years and has never been hacked. He tells Wuckert that, in some negotiations, potential clients simply did not believe him when he told them about BSV’s capabilities.

Questions and answers

Is UNISOT an nChain subsidiary?

No, they have a partner agreement. This gives UNISOT access to nChain’s patent portfolio, but they’re two separate organizations.

What would savings be as a percentage when using UNISOT?

Nilsson says there are no long-term studies yet since everything is still largely in pilot programs. However, he knows from experience that building interfaces to send data between companies costs millions, so savings can be made in that area alone. Likewise, provable audit trails make complying with ESG regulations and many others easier.

Does Nilsson have any other businesses or projects?

Yes, he has one working on triple-entry auditing. They worked with the Norwegian Financial Authority for 12 months and were told they could use the BSV blockchain as audit evidence. This means it can be used globally. He sees enormous potential in this area.

To hear more about how QR codes, NFTs, RFID tags, and the blockchain are coming together to create a more transparent world, check out the Weekly Livestream episode here.

Watch: Digitalizing the Philippines supply chain