News: Introducing Interu – our traceability solution to help tackle deforestation

• Created by iov42, Interu is a decentralised, tamper-proof platform which provides traceability without compromising privacy.
• Users can securely collect, store and share due diligence information across global supply chains, providing proof about identities, product legality and sustainability. 
• Whether the product is halal meat, green steel or forest-risk products that need to demonstrate zero deforestation, Interu enables companies to trace products from source to consumer.

London 15th February 2024 – iov42, a technology company specialising in digital identity, trust, and data integrity, today announced the launch of Interu, a traceability solution that enables its users to collect, store and share information across complex supply chains, without compromising privacy. 

Interu enhances supply chain traceability by allowing organisations to trace products from source to consumer, connect all points in a supply chain, and create proven identities for all participants. It also enables its users to conduct the necessary due diligence for compliance with regulations including the EU Deforestation Regulation (EUDR), the UK Environment Act and the US FOREST Act. Interu ensures organisations will be able to access new markets where traceability and improved due diligence is a requirement, driving business growth. 

The need for traceability in supply chains

Traceability has become crucial to supply chain management, helping to ensure product quality and provenance, resulting in higher levels of customer satisfaction and investor interest. It also helps fight human rights abuses and climate change violations by ensuring organisations can prove the goods they bring to market have been obtained from ethical, compliant sources. 

Global consumers increasingly cite sustainability and social responsibility as essential considerations when choosing which products to buy. Changing consumer sentiment, and a range of stringent supply chain policies which will imminently come into force, mean companies must now urgently demonstrate compliance with anti deforestation legislation. Interu enables them to do this in a scalable and secure way.

David Coleman, Chief Product Officer, iov42 said, “We are delighted to bring our unique traceability platform, Interu, to market. Interu deploys class-leading technology for companies who not only need to trade in a compliant and ethical way, but to prove they are doing so.”

iov42 technology

iov42’s purpose-built technology takes blockchain principles, such as decentralisation and immutability,and combines it with its unique approach to creating proven identities.

The Interu platform is perfectly suited to provide full traceability across complex supply networks, as it enables users to validate and prove the authenticity of data as well as verifying it with third parties. It also allows users to seamlessly specify and collect information from numerous sources in an easy-to-use desktop application, where information can be organised, verified, stored and shared, securely.  

iov42’s technology means only the people who have permission can gain access to the data stored on Interu, and only the information that is required is visible. This means organisations can securely share information with interested parties without compromising privacy. 

With a clear view of supply networks and associated data, users are able to identify the steps needed for compliance, such as tracking down missing data, completing risk assessments and mitigating risks. 

Interu’s powerful platform enables users to organise their information into helpful formats to support their customers in meeting due diligence requirements. This saves time, helps with market access and gives a competitive edge. 

“Interu users can use the platform to help reach compliance without compromising the privacy of their valuable proprietary data.” Coleman continues, “Our powerful platform could prove game-changing for all companies navigating complex supply chains while improving ESG and regulatory reporting.”

About iov42

iov42 is a technology company specialising in digital identity, trust, and data integrity. Our purpose built technology helps organisations, governments and societies coordinate confidently by enabling proven, transparent and secure transactions in a decentralised and immutable manner. Launched in February 2024, iov42’s traceability product, Interu, demonstrates how the fundamentals of this technology can be applied to enhance traceability across a range of commodities, countries, and use cases.