Over 100 organizations and experts representing large shippers, supply chain providers and governments, have teamed up with the World Economic Forum (WEF) and the International Organization for Public-Private Cooperation to co-design and pilot an open source “toolkit” to accelerate blockchain deployment across supply chains, WEF said on Wednesday.
WEF’s Redesigning Trust with Blockchain in the Supply Chain project focuses on using blockchain technology to bring standardization and transparency in the fragmented supply chain industry, while ensuring that the technology is deployed in an interoperable, responsible and inclusive way.
The initiative convenes a broad, multi-stakeholder community to co-design governance frameworks to accelerate the uses of blockchain in port systems. A focus will be put on supporting an approach that considers the entire ecosystem and which ensures an inclusive perspective that benefits all stakeholders.
Organizations involved in the project include Maersk, Hitachi, Mercy Corps, Korea Customs Service, Llamasoft as well as Ports of Los Angeles, Oakland, Valencia and Rotterdam.
“As blockchain technology is so new, supply chain decision-makers need clear guidelines, tools and frameworks to help them maximize the benefits and minimize the risks of this technology,” said Nadia Hewett, project lead of blockchain and distributed ledger technology at WEF.
Bernhard Kowatsch, head of the World Food Programme (WFP)’s Innovation Accelerator, said that a big part of WFP’s core operations revolves around logistics and supply chain. WFP, a humanitarian organization part of the United Nations system,