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Blockchain helps IBM manage supplier data with a new platform

2019-08-05 02:42 pm | Resource: News Section | No Views : 56

Blockchain helps IBM manage supplier data with a new platform IBM's technology giant, Chainyard and Blockchain, has developed a new block chain for supply chain management.
IBM announced the new statute in a press release published on Monday (August 5th).
Besides IBM, the founding members of Trust Your Supplier are also Anheuser-Busch InBev, Cisco, Lenovo, Nokia, Schneider Electric, GlaxoSmithKline, and Vodafone.
The product is designed on IBM's Block Chain platform, which aims to eliminate manual processes that are time-consuming and help reduce the risk of fraud and error.
According to the release, Trust Your Supplier creates a digital passport for the supplier identity on the Blockchain network, which allows suppliers to exchange information with specific buyers on the network. By deploying the platform, users can reduce the time and cost involved in qualifying, verifying and managing new suppliers. Renee O'Reilly, senior supply chain leader in the Lenovo Data Center Group, said:
"Block Chain technology has the ability to transform how companies operate and manage their network of suppliers for the future fully." Through Trust Your Supplier, both buyers and suppliers will see the advantages of buying a Block chain through cost reduction, complexity and speed.
IBM has continued to expand its Block Chain projects, and has recently completed several useful projects in this field.
Trust Your Supplier joins a cluster of IBM Block Chain projects. In mid-July this year, the company has tripled the number of Block Chain patents in the United States since 2018, and more than 100 families have active patents.
Last month, US technology giant Seagate, in collaboration with IBM, also entered the leading phase of its Blockchain project designed to combat hard disk drives (HDD). The project aims to help manufacturers, integrators and business partners better verify their hard drives using IBM's Block Chain platform, which has become one of the best companies to produce this new technology.

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