Rebuild trust blockchain Toolkit From World Economic Forum

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The following is the Rebuild trust blockchain Toolkit From World Economic Forum recommended by recordtrend.com. And this article belongs to the classification: Blockchain, research report.

The World Economic Forum (WEF) has launched a blockchain toolkit called “redesigning trust” to solve the bottleneck problem in the supply chain. The blockchain toolkit explains how to enable supply participants in the minimum viable ecosystem (MVE) to transfer part of their processes to shared, distributed ledgers and benefit from it.

A few forward-looking players have begun to explore the potential of distributed classification technology in global supply chain and logistics ecosystem. Through the use of this technology, the shipment can be traced. However, many companies still rely on their inefficient paper processes and have not deployed the technology.

In order to reduce the technological bottlenecks of 20 leading companies in the world, and encourage more companies to adopt the technology bottleneck of the world’s blockchain, 20 companies are encouraged to adopt the technology of blockchain.

According to people familiar with the situation, since 2018, the WEF has been studying how blockchain Technology (technologies supporting bitcoin and counterfeit currency) can radically change the world’s aging supply chain infrastructure, and now it has proposed a functional solution.

It is reported that the toolkit is called “Rebuilding Trust: blockchain deployment toolkit”. The WEF, together with 80 enterprises and 20 governments, has discovered the causes of frequent collapse of existing supply chain projects, and has used this information to comprehensively guide supply chain participants on how to use distributed ledger technology to replace existing outdated and inefficient systems.

Commenting on the progress, project leader Nadia Hewett reiterated that if everything went according to plan, the project would complete and implement hundreds of proof of concept (POCS), which could bring greater transparency and efficiency to the supply chain.

It is worth noting that the new blockchain toolkit will pay special attention to the food and energy supply chain ecosystem, which describes how the participants can start the food supply chain through a minimum feasible ecosystem based on the blockchain. The minimal feasibility ecosystem must consist of at least one retailer, one wholesale processing plant, one bank, one distribution center, one retail processing plant and one regulatory agency.

Members of the minimum feasible ecosystem will be able to share information in real time, predict shortages in advance, and determine the exact temperature of food at each point in the life cycle of the supply chain, the WEF said.

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