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.
About Transparency-One
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.
http://www.transparency-one.com
About Microsoft
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.
https://news.microsoft.com/facts-about-microsoft/#About
Contact:
KellyAnn Tsai
+1 617-804-0430
kellyann.tsai@transparency-one.com
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