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Timber Chain

Building trust and accountability in the global timber trade

Timber supply networks are complex, international and challenging to audit, which leads to billions of dollars in losses from illegal activity and inefficient processes. Timber Chain from iov42 changes that.

Timber Chain empowers you to

Create permanent digital records for your commodities, their processing and their downstream sales
Upload all relevant information for easy, secure access and verification by certifiers, authorities and customers
Easily navigate through interlinked information without having to go through piles of paperwork and emails
Share shipment information with buyers so they can trace each consignment’s origin
Have peace of mind that you can demonstrate compliance at the point you received shipments

The World Bank estimates that 15-30% of timber is harvested and exported illegally. Complex, international supply networks make it hard for businesses, individuals, and governments to know whether their wood has been sourced in compliance with local regulation.

Will Timber Chain work for me?

Whatever your role in the supply network, Timber Chain optimises your capacity for due-diligence, information sharing, verification and auditing, enabling maximum efficiency and providing peace of mind. Clients have told us ‘with shipments on Timber Chain, compliance is ‘just done’. Everyone from importers and exporters to forest managers, harvesters and retailers of wood products can implement a dynamic, ultra-secure system that reduces the risk of human error or corruption.

Any reputable organisation, once permissioned by network participants, can use Timber Chain. This positions Timber Chain as a reputable provider of trust between all participants in the network, both direct and indirect.

 

Importers

Traders receiving timber into their market and selling onto their own customers or direct to end users.

Exporters / Traders

Traders selling and shipping timber from one market to another. Supply can be entirely their own or including other companies’ shipments.

Certifiers / Verifiers

Organisations who check and approve claims made by other timber organisations in the ecosystem. For instance, claims about Chain of Custody, or Forest Management standards.

Sawmills

Companies who buy timber from forests and process it for selling onto other companies.

Coming Soon: Forest Owners

Organisations responsible for sustainable forest management, planting and harvesting timber in line with deforestation regulations.

Talk to us

Our team is more than happy to answer your questions and discuss how Timber Chain can be used to meet your needs.

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Our partners

Trust is our end goal and our most cherished value, so it’s no surprise that trusted partnerships are central to our approach. We collaborate with like-minded organisations across multiple sectors to enhance the applicability of our technology, help us deliver for clients and ensure iov42 is used in the service of people, communities and the planet.

Resources from iov42

Our Latest Blog Post: Timber Chain in Action

In 2021, Timber Chain was launched. Working in partnership with Preferred by Nature, this innovative timber supply solution was designed to tackle the notorious challenges and risks that have defined the timber industry – deforestation, corruption, lack of transparency, and the ever-evolving global regulations. It was therefore no surprise that Carl Ronnow, a global wood trading company of over 30 years, quickly adopted the solution.

Frequently asked questions

If Timber Chain is recording data on an immutable ledger, does this mean that data cannot be edited once it is recorded?

Timber Chain provides its users the ability to edit already recorded data, however, each change is reflected in the history of the record, with “old” information still being available for checking against the records on the immutable ledger.

For example, if a user has made a typo in the name of the mill that has processed the wood in a particular stock – they can simply edit the information and save it, which will result in the following steps:

 

    1. The stock information will be updated;
    2. A new claim will be created on the iov42 immutable ledger with the new information (the old claim with the typo will still be available);
    3. A new item will be added to the history section of the stock showing which value has changed;


Those who have access to the stock information will now be able to see which change has been made, but will also be able to approve what the previous value has been and all of the verifications (digital signatures / endorsements) that value has had.

Since data is recorded on a “blockchain”, does this mean that everyone can see it?

iov42’s core platform is a permissioned DLT (distributed ledger technology) solution, which means that its users determine who has access to their information (and which information as well) stored on the immutable ledger (“blockchain”).

Additionally, the data on the immutable ledger is stored in hashed form, which means that it cannot be made use of unless the person checking it has the original (unhashed) data available to be able to hash it and compare it to the hash stored on the immutable ledger.

The data stored on Timber Chain (i.e. outside of the iov42 immutable ledger) is also protected by a set of permissions that the users can either grant or restrict. For example, the shipment data only becomes available to the importer once the exporter has established a connection with them and has explicitly shared the shipment data with them.

Do all my suppliers and customers have to be on Timber Chain for me to use it?

No. We realise the fact that some organisations might not have the capacity or the means to upload their data to Timber Chain, therefore, we allow downstream members to upload data on behalf of their upstream suppliers. This ensures that full traceability data is available for due diligence and auditing purposes.

We also provide the means for Timber Chain users to share their outputs (shipments / deliveries / sales / etc.) with their customers who are not members of Timber Chain. This can be done via password-protected share links that are limited to one entity (i.e. 1 shipment / 1 delivery / etc.).

Can data be migrated from my existing system to Timber Chain?

Yes. We provide our users with the ability to upload XLSX files with data exports from their existing systems. This data can then be uploaded to Timber Chain and recorded on the immutable ledger (“blockchain”) in one go.  Document scans / digital documents can also be included by archiving both the XLSX file and the documents (in PDF format) and uploading the archive onto Timber Chain.

Which certification standards does Timber Chain support?

Timber Chain is standard agnostic, and is also suited for non-certified timber. This means that even organisations that are not pursuing certification, but still would like to demonstrate the soundness of their operations (by providing all of the necessary information to their customers and authorities) can use Timber Chain to trace their wood-based products.

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Want to know more about Timber Chain?

Would you like to know more about iov42 solutions? Our team will be more than happy to answer your questions.

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