OriginTrail partners with BSI to develop blockchain-enabled solutions
BSI, the business standards company, has exclusively partnered with OriginTrail to deliver blockchain-enabled solutions that will enhance its global assessment, certification and supply chain services to confirm the provenance of goods and/or the integrity of digital records or services.
With the movement of goods and services around the world reaching unprecedented levels and global supply chains becoming increasingly interconnected, complex supply chains demand trust. Organizations and consumer alike want to know that they can trust the integrity of the claims that manufacturers and suppliers make regarding employee work conditions, security compliance, the origins of materials used, the authenticity of their products, along with the health and ethics labels such as ‘organic’, ‘local’ or ‘responsibly sourced’.
Working Together on Solutions for Complex Supply Chains
BSI is the business standards company that equips businesses with the necessary solutions to turn standards of best practice into habits of excellence. Founded in 1901, BSI works with over 80,000 clients every year, conducting over 250,000 audits in 172 countries worldwide to help them adopt and cultivate the habits of excellence and best practice. BSI’s influence is global, playing a key role within the International Organization for Standardization (ISO). BSI developed the world’s most successful standard — quality management systems standard, ISO 9001 — in 1979, it has been adopted by more than one million organizations. BSI has authored 8 of the 10 most popular standards and is shaping standards for the future, shaping smart cities, food, medical device, IoT, and environmental and health management standards.
Building on BSI’s expertise in compliance, assessment and certification with OriginTrail’s blockchain-enabled technologies, they will work together to develop solutions that will help organizations prove the integrity of their global operations and that their product and/or services claims are real, have been verified and can be trusted. This type of blockchain application will be particularly relevant to the food, healthcare and built environment (digital buildings and smart cities) sectors due to being highly regulated industries and the complexity of their supply chains.
The aim of this partnership is to help clients to:
- Comply with regulation and standards
- Meet customer expectations concerning products features and claims (safety, quality and other attributes)
- Manage business risk, product quality and reduce the cost of non-conformities
- Be able to effectively manage product recalls with near-real-time corrective action
- Extract more value out of data already generated in global supply chains
Howard Kerr, Chief Executive of BSI said: “In today’s increasingly interconnected world, transparency and traceability throughout the supply chain is vital. This strategic partnership aims to provide our clients with the ability to demonstrate the authenticity of their compliance through the digital records of the assessments and certifications they have achieved from BSI. Ultimately building trust and confidence as consumers and business partners can easily verify the provenance of the goods and/or services they are buying.”
Tomaž Levak, OriginTrail’s co-founder and CEO, said: “We are glad that BSI has recognized the potential of blockchain technology to improve the integrity in the often opaque global supply chains, helping increase product safety, protect brands, and decrease risk. We are looking forward to creating solutions and services based on the needs of BSI’s clients and ushering them into the fourth industrial revolution.”
Pietro Foschi, Group Assurance Director of BSI added: “We are delighted to be partnering with the leading blockchain provider, OriginTrail. The many sectors and communities we serve desire greater transparency of their global operations and OriginTrail’s distributed ledger technology allows us to build a robust and immutable verification ecosystem.”
BSI’s clients can already apply for OriginTrail’s blockchain services in the pre-release stage, to be among the first ones to get hands-on expertise with the technology for the supply chains of the future.
About BSI
BSI is the business improvement company that enables organizations to turn standards of best practice into habits of excellence. For over a century BSI has championed what good looks like and driven best practice in organizations around the world. Working with over 86,000 clients across 193 countries, it is a truly international business with skills and experience across a number of sectors including aerospace, automotive, built environment, food, and healthcare. Through its expertise in Standards Development and Knowledge Solutions, Assurance and Professional Services, BSI improves business performance to help clients grow sustainably, manage risk and ultimately be more resilient.
To learn more, please visit: www.bsigroup.com
About OriginTrail
OriginTrail enables businesses to speak the same language with integrity. With the blockchain-powered data exchange protocol for interconnected supply chains, it is allowing organizations to seamlessly share and secure data — unlocking the potential of blockchain technology for the multi-organizational environment. With the focus on interoperability between different blockchains as well as with legacy systems, OriginTrail is a pioneer in efficient and scalable blockchain implementations for supply chain integrity, supply chain management, and compliance. It received the Innovation Spark Award from the Walmart Food Safety Collaboration Center.
For more information about OriginTrail, please visit: origintrail.io
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