IBM has introduced a blockchain-based supply chain verification network
Enterprise services company IBM announced a blockchain-based supply chain verification network, aptly named “Trust Your Supplier” (TYS). In its press release, IBM said that TYS is “designed to eliminate manual time-consuming processes and help reduce the risk of fraud and errors, ultimately creating frictionless connectivity across supply chains.”
IBM will collaborate with blockchain services company Chainyard to bring TYS to a prominent list of clients, including Anheuser-Busch InBev, Cisco, GlaxoSmithKline, and Vodafone. TYS is set for a commercial release in Q3 2019.
The TYS network gives us another glimpse of how blockchain could disrupt traditional supply chain networks. According to data from Gartner cited by IBM, blockchain will track the movement of an estimated $2 trillion worth of goods and services by 2023
If you are interested in how blockchain can affect the supply chain, please click the link below to read some foreseeings from Business Insider:
Source: www.businessinsider.com
