Philip Morris is working on an unusual type of blockchain, that according to estimates could save up to $ 20 million thanks to process automation and reducing the number of frauds.

Well-known multinational company, based in New York, plans to use transparency and traceability, offered by blockchain to track tax stamps on cigarette boxes. These small papers have real value, are dealt with manually and easily counterfeited, which represents high cost for both government and industry - $ 100 million annually. This is not a typical blockchain use case scenario, one might expect.

“We want to create public blockchains” says Nitin Manoharan, global head of architecture and tech innovations in Philip Morris. As most enterprise blockchains require new users for confirmation, at Philip Morris they see future and advantages in wide accessibility and openness for all system users.

“We would like to create solutions across the whole industry, where stakeholders can subscribe to the service and benefit from it immediately. If they don't like, they can just leave. The minimal infrastructure must be from the very beginning attractive enough for all its stakeholders.” adds Manoharan. However, that doesn't mean Philip Morris is going to issue its own cryptocurrency or so. We can rather see available blockchain options tailored to enterprise in order to create new open networks.