The distributed ledger has the potential to shake up the procurement process and companies are finding ways to integrate it with supply chain business applications. SAP Ariba is hoping to transform global supply chains by connecting records of authenticity to single products, which companies can then track via the blockchain ledger. They’re kicking things off with diamonds. Read More >>
BLOCKINTEL’S TAKE: Compliance officers should be looking at the pros of the blockchain for monitoring the compliance risks often associated with suppliers. More transparency into the sourcing process means supply chain managers and compliance officers can more easily identify potential legal and reputational risks to their businesses (e.g. FCPA, laundering, etc.). Could we see blockchain-driven pricing wars because of the transparency of the distributed ledger? Perhaps.