IBM and Chainyard Create New Blockchain Network To Simplify Supply Chain Management For Enterprises

IBM and Chainyard Create New Blockchain Network To Simplify Supply Chain Management For Enterprises

IBM and blockchain consulting firm, Chainyard, have joinedforces to create a new blockchain network designedto simplify supply chain management for enterprises. Today the two firmsannounced the launch of the “Trust Your Supplier” (TYS) network, a system built on the IBM Blockchain platform that is designed to improve supplierqualification, validation, onboarding and life cycle information management.

IBM has a shot to solidify itself as the leader in enterprise blockchain adoption. And what follows enterprise usage? Consumer usage. Verifying activity on the supply chain is such a good use case for large scale blockchain adoption. Curious how this plays out…

The chains grow more intertwined with more organisations implementing the same. In my study I see that organisations in NZ are block chaining their precious honey and wines, WWF Fiji/NZ tracks its fish (blockchain tuna) and Bangladesh textiles are tracked too. Sign of good things to come, where sales and purchase get transparency, accountability and counterfeit and fraudulent goods are off the shelf.
As of now seems one major hurdle would be the energy consumption due the distributed ledger structure having a large carbon footprint.