A globally decentralised platform designed to build greater transparency in global supply chains has entered into a strategic partnership to implement blockchain solutions.
BSI announced in a statement this week that it has entered into a partnership with OriginTrail to deliver blockchain-enabled solutions that will “enhance its global assessment, certification and supply chain services to confirm the provenance of goods and/or the integrity of digital records or services.”
The partnership will work with clients from all over the world to comply with regulation and standards, meet customer expectations concerning products features and claims, manage business risk, product quality and reduce the cost of non-conformities, be able to effectively manage product recalls with near-real-time corrective action and extract more value out of data already generated in global supply chains.
The partnership comes at a time where global supply chains are better connected more than ever before and this is creating a greater demand for trust. It will build on BSI’s expertise in compliance, assessment and certification and will leverage OriginTrail’s blockchain-enabled technologies. The two companies will look to develop solutions that can enable greater integrity across global operations.
Howard Kerr, Chief Executive of BSI said: “In today’s increasingly interconnected world, transparency and traceability throughout the supply chain is vital. This strategic partnership aims to provide our clients with the ability to demonstrate the authenticity of their compliance through the digital records of the assessments and certifications they have achieved from BSI. Ultimately building trust and confidence as consumers and business partners can easily verify the provenance of the goods and/or services they are buying.”
Tomaž Levak, OriginTrail’s co-founder and CEO, said: “We are glad that BSI has recognized the potential of blockchain technology to improve the integrity in the often opaque global supply chains, helping increase product safety, protect brands, and decrease risk. We are looking forward to creating solutions and services based on the needs of BSI’s clients and ushering them into the fourth industrial revolution.”