Dec 05 2019 15:57 languageCryptAssets
Uploaded by: Cryptassets
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Supply chains are becoming increasingly digital. A central requirement of these digital business networks is the ability to effectively make use of partners in a trustworthy way. As such, organizations need a comprehensive system for the verification and management of digital business identities that is both dynamic and trustworthy.
Despite recent improvements in digital identity verification systems, they need further development to support the supply chains of the future. New demands on the digital identities of legal entities and possibilities for supply-chain organizations will likely be ushered in by the Fourth Industrial Revolution – with shifts enabled by the internet of things (IoT), artificial intelligence (AI) and, in particular, distributed ledger technology. The pace of development is faster than ever before, and decision-makers need to re-evaluate the systems they have in place to manage digital identities.
This paper advances two topics identified by the World Economic Forum:
1. This is the second white paper in a series and part of a broader project focused on the co-creation of new tools and frameworks to shape the deployment of distributed ledger technology in supply chains towards interoperability, integrity and inclusivity. The World Economic Forum’s Centre for the Fourth Industrial Revolution is working with a multistakeholder group to produce a project that includes:
–A series of white papers published in 2019. Collectively and individually, these papers will offer insights into and explorations of specific considerations for decision-makers in harnessing blockchain technology effectively.
–A concise, easy-to-use toolkit to be released at the end of 2019 covering important topics for supply-chain decision-makers to consider for responsible blockchain deployment.
2. It contributes to the ongoing development of understanding about and the deployment of “good digital identities” for the Fourth Industrial Revolution.
As digital business interactions flow across borders in international supply chains, there will be many cases in which parties do not know each other before they conduct business together. It is our hope that the following overview of the opportunities, risks and some suggested next steps will stimulate stakeholders to embark on a new and exciting action agenda to build digital identity systems that are prepared for future supply chains.
Dec 05 2019 15:57 language