This week, our very own Mike Vandenbergh, Director of Emerging Technologies for The Seam, led a blockchain lunch & learn at our headquarters. Mike recently joined us at The Seam after previously working at Micopact Global as Vice President of Information Technology.
In this week’s blockchain round-up, we have compiled three articles on this hot topic. Each one offers a unique perspective into blockchain technology, with an article on the technology’s background to articles on how it will improve IT and its adoption within banks and institutions.
Chain Business Insights, LLC, an independent research firm, released its first benchmark survey on blockchain in supply chain. The firm, which focuses on the application of blockchain in supply chain management and trade finance, states that the survey provides the current state of play of blockchain in the industry, and can be effectively monitored for change.
At the heart of a Denver-based company’s recent crisis was the ever-present problem faced by companies that depend on multiple suppliers to deliver parts and ingredients: a lack of transparency and accountability across complex supply chains. Unable to monitor its suppliers in real time, this company could neither prevent the contamination nor contain it in a targeted way after it was discovered.
U.S. commodities trading and agri-business software provider The Seam, which has cleared or processed over $7 billion through its cloud-based platforms, is forming a blockchain consortium in conjunction with IBM for the billion dollar global cotton industry deployed on the Hyperledger Fabric, with the project kicking off early this year and poised to yield significant efficiencies.
When IBM CEO Ginni Rometty took the stage as keynote speaker at the FinTech Ideas Festival this month in San Francisco, she mentioned how the tech giant is working with a Memphis agribusiness to improve trading.
The cotton industry may evoke images of rural farmers and old Memphis industry, but modern-day businesses rely heavily on cutting-edge technology for production and trade.
In another example of how IBM is using blockchain, it also just announced that it’s partnering with The Seam, a commodity trading and management systems company, to create a cotton industry consortium devoted to the creation of a blockchain-based “supply chain and trading ecosystem.” The effort will make use of IBM’s blockchain technology and expertise and will use IBM’s Hyperledger Fabric in an industry-first.
2016 seemed to be the year of blockchain big bank consortia, perhaps 2017 will be the year of blockchain consortia in other industries. Today, The Seam, a commodities trading, and agribusiness software provider, announced the formation of a blockchain consortium for the global cotton industry. In conjunction with IBM, The Seam wishes to create a supply chain and trading ecosystem built on IBM blockchain tech using the Hyperledger Fabric.