Intriguing play by IBM, using their Hyperledger Blockchain. Would seem also that 'smart contracts' would be natural additions to such an approach, to specify context and domain specific constraints. Note the large number of companies involved. This might be called a classic 'trust' type application. Procurement view seen as a next step.
IBM, Chainyard unveil blockchain-based 'Trust Your Supplier' network in ComputerWorld
IBM has partnered with Fortune 500 companies to launch the network, which is aimed at automating the validation and onboarding of buyers and suppliers. By Lucas Mearian
IBM and blockchain consultancy Chainyard today announced a new permissioned blockchain-based network designed to improve supplier validation, onboarding and life cycle information management.
Along with IBM, Anheuser-Busch InBev, GlaxoSmithKline, Lenovo, Nokia, Schneider Electric and Vodafone are founding participants in the Trust Your Supplier (TYS) network.
"This blockchain initiative represents a great opportunity for Nokia to further enhance our suppliers' experience and optimize the onboarding process," Sanjay Mehta, vice president of procurement for Nokia, said in a statement. "Using the latest technology to address a classical challenge will be of benefit for everyone, and further increase the speed of using innovative solutions."
Unlike IBM's other blockchain-based networks, which can track everything from produce to jewelry from origin to destination, there is no product tracking on the new distributed ledger.
"TYS plans to add additional functionality over time as the network scales," said David Post, managing director of Blockchain Ventures at IBM.
TYS was built to act as a cross-industry blockchain network for procurement functions. The network's first use case relates only to supplier onboarding and validation, according to Post. .... "
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Our team of blockchain experts bring extensive experience in architecting, designing, building, testing, securing and operating complex distributed systems to help adopters of blockchain technology succeed. .... "
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