BlockBeats News, July 16th, Volvo Group's truck operating department's Head of Information Management, AI, and Analytics, Ivan Branco, revealed that the company has been testing its proprietary cryptocurrency on a private blockchain network to streamline transactions and data exchange with material suppliers and transportation providers. This internal exploration aims to facilitate cross-border transactions by bypassing the traditional monetary system while maintaining an immutable record of orders and shipping data. This initiative is part of Volvo Group's (responsible for truck, bus, and construction equipment businesses) broader initiative to explore blockchain technology to enhance supply chain efficiency. However, the project is currently in the conceptual stage and has not yet progressed to industrial implementation.