The World Economic Forum highlights the importance of technologies, such as the blockchain, to boost efficiencies and improve trust across stakeholders, for the continuity of supply chains.

It is noted that the COVID-19 crisis has made important the need for both speed and clarity in implementation, with the Forum developing the Blockchain Deployment Toolkit, a first-of-its-kind set of high-level guidelines documenting tested best practices to address the issues that arise in blockchain implementation projects.

Spending a year, the World Economic Forum collaborated with more than 100 organizations and 50 countries, across 6 continents, focusing on 40 blockchain use cases ranging from provenance and traceability to automation and streamlined operations.

As blockchain has been characterized as “The new kid on the block”, its advantages have been already fruitful within the shipping industry. Thus, the toolkit presented by the Forum, includes 14 different modules that represent key success and risk factors for the deployment of a blockchain solution within the supply chain context.

The Forum conducted two pilot projects, the first in cooperation with the Abu Dhabi Digital Authority, and the second with Saudi Aramco.

World Economic Forum notes that

Speed and clarity in blockchain implementation, always important, will be all the more critical during the immediate future as organizations tackle the health crisis.

The post World Economic Forum supports blockchain for supply chain continuity appeared first on SAFETY4SEA.

Leave a Reply