WEF's Blockchain toolkit to tackle supply chain failures

01 May '20

2 min read

Pic: Shutterstock

To help organisations improve pandemic preparedness and accelerate an economic rebound post COVID-19, the World Economic Forum (WEF) recently released the ‘Redesigning Trust: Blockchain Deployment Toolkit’, which enables leaders to maximise benefits and minimise risks of the technology. The aim is to maintain and strengthen the resilience of global supply chains.

The current pandemic underscores the need for businesses and governments to improve the integrity and provenance of pharmaceutical products and medical supplies, as well as food, goods and industrial and consumer products, WEF said in a press release.

The first of its kind toolkit is the culmination of more than a year of efforts to capture best practices from blockchain deployment across industries.

Drawing on the global expertise of more than 100 organisations, including governments, companies, start-ups, academic institutions, civil society, international organisations and technology and supply chain experts, the toolkit helps companies manage the complexities of deploying this new technology and will accelerate its positive impact.

The toolkit has been piloted in a variety of different contexts by organisations developing blockchain solutions within their supply chains, including the Abu Dhabi Digital Authority, Hitachi, Saudi Aramco and a number of small and medium enterprises.

Fibre2Fashion News Desk (DS)

More World Economic Forum News... More Apparel/Garments News - Switzerland...