Blockchain Startup OriginTrail Partners With British Standards Institution For Supply Chain Solution
BSI, the national standards body of the United Kingdom, produces technical standards on a wide range of products and services. It also publishes standards-related books, CD-ROMs, subscription products and web-based solutions as well as providing training on standards-related issues.
Founded in 2013, OriginTrail is a purpose-built protocol for supply chains. The platform allows IT providers in supply chains to set up blockchain-supported data-sharing in multi-organizational environment. Original data is kept on a decentralized network, which enables the development of decentralized apps on top of it.
BSI will be working with OriginTrail to enhance its global assessment, certification and supply chain services to confirm the provenance of goods and/or the integrity of digital records or services. They will develop solutions that will help organizations prove the integrity of their global operations and that their product and/or services claims are real, have been verified and can be trusted.
“In today’s increasingly interconnected world, transparency and traceability throughout the supply chain is vital,” Howard Kerr, Chief Executive of BSI. “This strategic partnership aims to provide our clients with the ability to demonstrate the authenticity of their compliance through the digital records of the assessments and certifications they have achieved from BSI. Ultimately building trust and confidence as consumers and business partners can easily verify the provenance of the goods and/or services they are buying.”
The solution, which BSI intends to implement in the food, healthcare and built environment sectors, will be designed to help clients to comply with regulation and standards, meet customer expectations concerning products features and claims, manage business risk, product quality and reduce the cost of non-conformities, and extract more value out of data already generated in global supply chains. Once developed, the solution will also enable clients to effectively manage product recalls with near-real-time corrective action.
“The many sectors and communities we serve desire greater transparency of their global operations and OriginTrail’s distributed ledger technology allows us to build a robust and immutable verification ecosystem,” Pietro Foschi, Group Assurance Director of BSI.