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IBM, Chainyard unveil blockchain-based ‘Trust Your Supplier’ network

By August 5, 2019Newsletters

IBM and blockchain consultancy Chainyard today announced a new permissioned blockchain-based network designed to improve supplier validation, onboarding and life cycle information management.

Along with IBM, Anheuser-Busch InBev, GlaxoSmithKline, Lenovo, Nokia, Schneider Electric and Vodafone are founding participants in the Trust Your Supplier (TYS) network.

“This blockchain initiative represents a great opportunity for Nokia to further enhance our suppliers’ experience and optimize the onboarding process,” Sanjay Mehta, vice president of procurement for Nokia, said in a statement. “Using the latest technology to address a classical challenge will be of benefit for everyone, and further increase the speed of using innovative solutions.”

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Robert C.

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