The weight made by the COVID-19 flare-up on worldwide exchange frameworks features a dire requirement for worldwide participation to keep up and fortify the versatility of global inventory chains.
To assist associations with improving future pandemic readiness and quicken a monetary bounce back post COVID-19, the World Economic Forum is discharging the Redesigning Trust: Blockchain Deployment Toolkit which empowers pioneers to augment the advantages and limit the dangers of the innovation. Strength in supply chains relies upon trust, straightforwardness and honesty, which can be improved through the dependable arrangement of blockchain advances that offer a “mutual truth”.
The present pandemic underscores the requirement for organizations and governments to improve the trustworthiness and provenance of pharmaceutical items and clinical supplies, just as nourishment, merchandise and mechanical and customer items.
The first of its kind toolkit is the culmination of more than a year of efforts to capture best practices from blockchain deployment across industries. Drawing on the global expertise of more than 100 organizations – including governments, companies, start-ups, academic institutions, civil society, international organizations and technology and supply chain experts – the toolkit helps companies manage the complexities of deploying this new technology and will accelerate its positive impact.
The toolkit (linked below) includes the following modules:
- Introduction – The foundations of blockchain deployments and design principles
- Ecosystem – Blockchain collaboration models, typical roles & governance
- Consortium Formation – Consortia landscape, elements, deliverables & business models
- Consortium Governance – Organizational structure, IP, risk management & dispute resolutions
- Digital Identity – Building, identifying and designing roles. Process & governance
- Interoperability – Fundamentals, requirements & approaches to interoperability
- Structure: Public / Private – Choosing a chain strucuture & navigating decision making
- Data Protection – Protecting commercially sensitive data and technology solutions. A manufacturing conglomerate case study
- Data Integrity – The data pipeline creation to confirmation, solutions, assurances, and correspondence
- Personal Data Handling – GDRP applicability, obligations, and compliance approaches
- Cyber-Security – Fundamentals, risk management & blockchain secure deployments
- Legal & Regulatory Compliance – Understanding nature of blockchain transactions & network jurisdictional issues
- Tax Implications – Tax considerations of blockchain solutions & digital assets
- Financial Reporting & Controls – Relevance of financial reporting, design & deployment considerations
- Risk Factors – Identifying blockchain-related risks & risk identification checklist
The toolkit has been piloted in a variety of different contexts by organizations developing blockchain solutions within their supply chains, including the Abu Dhabi Digital Authority, Hitachi, Saudi Aramco as well as a number of SMEs.
The toolkit was created by the World Economic Forum with:
- The Centre for the Fourth Industrial Revolution Network Fellows from Hitachi
- Saudi Aramco
Among the many others who contributed to its development, in over 50 countries, were:
- The Centre for the Fourth Industrial Revolution UAE
- The Port of Los Angeles
- Latham & Watkins
- Cardiff Business School
- University of Berkeley
- Tech Mahindra
- Maersk Angola
- World Bank
- Inter-American Development Bank
- The World Food Program
The case for blockchain is stronger as the COVID-19 pandemic underscores the need for more resilient global supply chains, trusted data and an economic recovery enabled through trade digitization.