The blockchain deployment movement has recently seen major involvement from the World Economic Forum (WEF) in collaboration with over 100 supply chain and logistics leading companies and individuals.
The WEF, a Swiss organization working to better “the state of the world,” essentially leads the initiative, named “Redesigning Trust with Blockchain in the Supply Chain,” with support from over 20 governments, shippers and supply chains.
The multistakeholder group purportedly consists of logistics expert company Maersk, Japanese consulting firm Hitachi, humanitarian aid organization Mercy Corps, South Korean tax firm Korea Customs Service and Ports of Los Angeles, Oakland, Valencia and Rotterdam to name a few.
The main objective of the project is to leverage the interoperability of blockchain applications in said industries, allow for public utilization of blockchain technology via a toolkit, and clear out media overhype attached with blockchain in the past few years.
The new initiative aims to “piece together the puzzle, so others don’t have to start from scratch,” as stated by the project leader at the WEF Nadia Hewett. She allegedly expected supply chain solution makers to have clear guidelines, instruments and frameworks to increase blockchain benefits and mitigate possible risks at the same time.
In mid-April, The Crypto Sight also reported on the collaboration among world’s largest business organizations, the International Chamber of Commerce (ICC), and Singaporean blockchain startup Perlin to accelerate global blockchain adoption in over 45 million companies including Amazon and PayPal.