Digitalising Tyre Raw Materials
There are a number of ways to digitalize the raw materials in a tire. The raw materials could be deemed a non-fungible asset, an asset in the form of a token, which through cryptography would help to prove verifiably the ownership and authenticity of the asset.
Another option is to have the asset defined as a fungible asset; the asset can therefore not be interchanged. Therefore, if a specific batch of raw material is required to be traced throughout the supply chain, then this approach would be more feasible. In this instance, the raw materials will be assumed to be non-fungible. The raw material producers, therefore, generate tokens, which are then supplied to the logistics companies. The logistic companies take the raw material and the equivalent amount of tokens that are representing the amount of raw materials in weight and transport or ship them to the tire manufacturing plant.
The manufacturing plant receives both tokens and raw materials and produces tires. The tire producer can, therefore, continue with the token that represents the weight, or the token can be converted to represent the actual number of tires produced.