Today IBM announced that it’s partnering with blockchain developer Chainyard for a new
Trust Your Supplier blockchain. Apart from IBM itself, the first external participants in the supplier management blockchain include Budweiser owner Anheuser-Busch InBev, Cisco, GlaxoSmithKline, Lenovo, Nokia, Schneider Electric and Vodafone.
The blockchain aims to address the issue of managing suppliers and their qualifications. Supplier credentials need to be checked and validated, they need to be onboarded, and there’s an entire life cycle management.
Trust Your Supplier will behave like a digital passport. So suppliers can share their information with multiple permissioned buyers in the network. Hence it should save time for both buyers and suppliers. The announcements states that third-party validators and auditors are participating in the network including Dun & Bradstreet, Ecovadis and RapidRating.
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