Create a FREE account and...
Manage your own Watchlist
Access all education lessons
Converse with other crypto enthusiasts
Be a part of the Interactive Crypto Community
OR
Please fill out the required fields Please fill out the required fields Please fill out the required fields
Get Into Cryptocurrency Trading Today
IBM, one of the market leaders when it comes to providing blockchain solutions and, as well as working on improving the blockchain ecosystem, has launched another blockchain called Trust Your Supplier (TYS) which joins other successful projects.
IBM has already been building blockchain solutions in the food supply chain space - with Food Trust which has the backing of WalMart and Nestle - as well as general supply chain with Trade Lens.
Now, TYS, which has already attracted the likes of Anheuser-Busch InBev, GlaxoSmithKline, Lenovo, Nokia, Schneider Electric and Vodafone - all from different sectors - is working on improving the supplier supply chain.
TYS is focused on supplier onboarding, which means ensuring that information relating to suppliers for businesses have all their ata and relevant information up to standard and available - this time through the blockchain.
ISO certifications, bank account data, tax certifications, certificates of insurance and other supplier data required for exchanging purchase orders and invoices are all required in on-boarding suppliers, but this information is often fragmented and comes across in different forms.
Marie Wieck, general manager at IBM Blockchain, explained to CoinDesk why this blockchain consortium is so important.
“That onboarding cycle is typically very manual in many companies, even those with very efficient supply chains, just in terms of the vetting and validation of those suppliers. Getting a new supplier on-boarded quickly, particularly when there are new capabilities coming up every day, is critical to how rapidly you introduce new products and services.”
Some of the parties involved in this consortium have already expressed their eagerness in getting the on-boarding of suppliers into the blockchain to reap the benefits.
“Blockchain has the ability to completely transform how companies onboard and manage their supplier network for the future,” said Renee Ure, Chief Supply Chain Officer for Lenovo’s Data Center Group. “Through Trust Your Supplier, both buyers and suppliers will see the procurement benefits of blockchain through reductions in cost, complexity and speed.”
Sanjay Mehta, Vice President Procurement, Nokia, shared his thoughts too.
“Working with IBM and Chainyard on this blockchain initiative represents a great opportunity for Nokia to further enhance our suppliers’ experience and optimize the onboarding process,”
“Using the latest technology to address a classical challenge will be of benefit for everyone, and further increase the speed of using innovative solutions.”
While this new blockchain will use the expertise that IBM has already accumulated in their different supply chain work, the heart of TYS is the “Digital Passport” for supplier identity.
This digital passport will allow suppliers to on-board all their relevant information onto the blockchain and have full control over it, allowing clients and customers to access what they need on the verifiable and immutable blockchain.
This is another form of digital identity, an aspect of blockchain research that has been heavily looked into, however, the idea of putting a business’s identity on a blockchain may have even further reaching implications.
Create a FREE account and...
Manage your own Watchlist
Access all education lessons
Converse with other crypto enthusiasts
Be a part of the Interactive Crypto Community
ALL
TRENDING
WATCHLIST
Total Market Cap The Total Market Capitalization (Market Cap) is an indicator that measures the size of all the cryptocurrencies.It’s the total market value of all the cryptocurrencies' circulating supply: so it’s the total value of all the coins that have been mined.
{[{ marketcap }]} {[{ marketcapchange.toLocaleString(undefined, {maximumFractionDigits:2}) }]}% (24H) {[{ marketcapchange.toLocaleString(undefined, {maximumFractionDigits:2}) }]}% (24H)
Symbol
Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting all the data from several exchanges to provide the most accurate price available.
24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current price and the price24 hours ago.
Trade
{[{ item.name }]}
{[{ index + $index}]}
{[{ item.pair.split('_')[0] }]}
Ƀ{[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]} ${[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]}
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
Symbol
Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting allthe data fromseveral exchanges to provide the most accurate price available.
24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current priceand the price24 hours ago.
Trade
{[{ item.name }]}
{[{ index + $index}]}
{[{ item.pair.split('_')[0] }]}
Ƀ{[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]} ${[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]}
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
Binance´s Launchpad Gears Up Tor Arkham Token Sale, Starts Recording BNB Balances
4 months ago | Benzinga
Arkham´s New Crypto Intel Trading Platform: A Game Changer For Traders?
4 months ago | NewsBTC
Bitcoin Could Rise to $120K by End-2024: Standard Chartered
4 months ago | Coindesk
Bitcoin Edges Lower; Bone ShibaSwap Becomes Top Loser
4 months ago | Benzinga
JustBit Casino Review
JustBit Casino, which specializes in virtual currencies, is easy to use because withdrawals are expl...
Huobi Token General Overview
Is Ripple The Cryptocurrency of 2021? - In Depth Review of Ripple XRP
Ethereum Classic Review
Monero General Overview
YouHolder
YouHodler is not just another player in the crypto space; it's a dynamic and innovative company ...
XBO
XBO.com cryptocurrency exchange redefines how you interact with crypto. Designed to make the benefit...
Bithumb
Understanding Bithumb This article highlights what is Bithumb and where it is located. It also di...
Bitstamp
Bitstamp's continued success in the crypto market This article highlights what Bitstamp is. I...
Bitfinex
Bitfinex general overview delves deep into its operations since its inception in 2012 up to date. It...
(adsbygoogle = window.adsbygoogle || []).push({}); Introduction In t...
(adsbygoogle = window.adsbygoogle || []).push({}); Einführung Wenn es um Er...
Mobi
Are you someone who makes international payments regularly using Bitcoin? Or do you travel a lot and...
Bitcoin.com
Bitcoin.com is a free downloadable Bitcoin wallet that allows users to trade and receive Bitcoins. T...
BTC.com
Created by Bitmain in 2016, BTC.com is a leading open-source Bitcoin and Bitcoin Cash storage platfo...
Big Firms Join IBM Blockchain Project for Buyers and Suppliers
IBM, one of the market leaders when it comes to providing blockchain solutions and, as well as...
Huobi Token General Overview
The Huobi token has become an excellent option for those who want to enter the cryptocurrency...
Coinfinity succeeds to transfer Bitcoin to an ATM through Lighting Network
Actually, when you buy bitcoins, you have to deal with high fees, and you also have to wait...
Where is the Crypto Market is Going in 2020?
If there is a group of people currently wishing they had kept quiet, it is the team that...
Bitcoin Awards and the challenges of tomorrow
...
(adsbygoogle = window.adsbygoogle || []).push({}); Introduction In t...
(adsbygoogle = window.adsbygoogle || []).push({}); Einführung Wenn es um Er...
Mobi
Are you someone who makes international payments regularly using Bitcoin? Or do you travel a lot and...
Bitcoin.com
Bitcoin.com is a free downloadable Bitcoin wallet that allows users to trade and receive Bitcoins. T...
BTC.com
Created by Bitmain in 2016, BTC.com is a leading open-source Bitcoin and Bitcoin Cash storage platfo...
COMMENTS (0)