Blockchain initiative will enhance security of global supply chain data
BOSTON, Oct. 10, 2017 /PRNewswire/ — Transparency-One, the source to store supply chain transparency solution, today announced it has partnered with Microsoft to provide blockchain capabilities for its platform. Transparency-One customers have the option to add an additional layer of security to their data by storing critical supply chain information, captured in Transparency-One, in Microsoft Azure’s Blockchain Services.
Blockchain for the supply chain
Blockchain heightens the security of the data stored in Transparency-One by creating a ledger of all transactions between supply chain partners, and making it immutable. With this technology, all transactions, including any updates or modifications, are immediately recorded and stored in the blockchain. Blockchain data can immediately be accessed by designated supply chain partners, providing full transparency at each step of the supply chain.
„Blockchain is a powerful technology that can play an integral role in helping businesses achieve end-to-end supply chain transparency, in any industry,“ said Frédéric Daniel, Chief Technology Officer of Transparency-One. „Transparency-One maps the complete supply chain down to the raw material, and blockchain ensures that every step of the process is permanently recorded, providing an even higher level of data security.“
„Blockchain is a transformational technology with the ability to significantly reduce the friction of doing business and transform supply chain solutions,“ said ShiSh Shridhar, Microsoft Worldwide Retail Industry Solutions Director. „Transparency-One’s value proposition to map the entire supply chain, track compliance, and provide analytics to proactively manage business risks, combined with the Microsoft Azure’s Blockchain Services, will enable organizations to ensure the security and integrity of supply chain data.“
How it works
The blockchain services build on Transparency-One’s supply chain digitization and mapping technology. Brand owners, retailers, manufacturers, and suppliers along the entire value chain can use the Transparency-One solution to discover their end-to-end supply chain networks, share and exchange relevant product, component, and facility information, and analyze performance. The platform can manage a range of supply chain data, including:
- Chain of custody: mapping of the complete supply chain
- Product integrity: product composition, quality, testing, and safety information
- Supplier compliance: supplier and facility details, country of origin, certifications and audits
- Documentation for regulatory compliance
With the new Transparency-One blockchain capabilities, users achieve an additional layer of data protection by adding their supply chain data to an Ethereum blockchain. With a single click in the platform, complete supply chain information, discovered by Transparency-One, is permanently recorded in the blockchain.
Ensuring data integrity
While blockchain technology provides a record of all supply chain changes, additional measures are needed to guarantee data accuracy. Transparency-One’s partnership with SGS provides validation services to ensure the quality, integrity, and security of supply chain data.
As part of the Transparency-One service, SGS will verify the information entered into the platform both via integration with SGS databases and the supplier onboarding team. Any declared supplier certifications not yet validated by SGS can be verified by an SGS team, then tagged. Once data is verified and tagged, it can no longer be changed by the supplier; any subsequent changes are stored as additional transactions in the blockchain, providing full traceability of the changes. This integration provides Transparency-One users with supply chain data that is 100% secure and accurate.
Transparency-One enables companies to discover, analyze, and monitor all suppliers, components, and facilities in the entire supply chain. Transparency-One combines cutting-edge graph database technology, supply chain expertise, and global supplier onboarding services, in partnership with SGS, to help all supply chain stakeholders reduce business risk. The company is based in Boston, Massachusetts with offices in Paris, France.
Microsoft (Nasdaq „MSFT“ @microsoft) is the leading platform and productivity company for the mobile-first, cloud-first world, and its mission is to empower every person and every organization on the planet to achieve more.
Microsoft refers to Microsoft Corp. and its affiliates, including Microsoft Mobile Oy, a subsidiary of Microsoft. Microsoft Mobile Oy develops, manufactures and distributes Lumia and Asha and Nokia X mobile phones and other devices.
This article was originally published on PR Newswire on October 10, 2017.