World Economic Forum Collaborates With Supply Chain and Logistics Industry to Boost Blockchain Implementation

The World Economic Forum (WEF) recently announced its involvement in the implementation of Blockchain by collaborating with about 100 top supply chain and logistics companies and Individuals.

The World Economic Forum a Swiss organization led the initiative. The initiative was created to work towards the advancement of blockchain usage for the betterment of the world. The initiative is themed “Redesigning the trust with Blockchain in the supply chain,” and presently has gained support from shippers, supply chain companies and over 20 governments.

Shareholders of the initiative

The initiative’s largest shareholders group consists of logistics giant Maersk, Japanese consulting firm Hitachi, non-governmental, humanitarian aid organization Mercy Corps, South Korean Tax firm Korea Customs service and Ports of Oakland, Los Angeles, Rotterdam, and Valencia etc.

Aim of the project

The main goal of this project is to influence the incorporation of blockchain in the logistics and supply chain industries. It also aims to enable public usage of Blockchain technology through a tool kit getting rid of media over advertise attached with Blockchain over the past few years.

This coming together of the world’s largest business groups, the International Chamber of Commerce (ICC) and Perlin a blockchain startup in Singapore is to hasten global blockchain adoption in over 45 million companies including Amazon and Paypal.

The (WEF) supply chain project “redesigning trust with Blockchain in the supply chain” main focus is in using blockchain technology to bring about transparency and uniformity in the supply chain industry. It also aims to ensure that the technology is implemented in a responsible way.

The initiative brings together some of the most important shareholders in the industry to design the frameworks to hasten blockchain usage in port systems.

A lot of attention will be focused on supporting this approach as it will ensure all major players in the initiatives benefits from its implementation.