Mercedes-Benz Switches to Blockchain Technology in Supply Chain
German automotive giant Mercedes-Benz has developed a platform based on blockchain technology to increase transparency and sustainability in complex supply chains.
German giant Mercedes-Benz entered into a partnership agreement with the United States-based software company Icertis for the development of the blockchain technology. Mercedes said they have developed a prototype based on blockchain technology to easily store the storage of documents and contracts in complex supply chains.
This project will allow for a transparent and sustainable presentation of the documents along the entire supply chain. Mercedes-Benz board member Wilko Stark stated that blockchain technology could affect the “almost all value chain Mercedes and added:
”With the Blockchain technology, our Blockchain prototype, which has the potential to revolutionize our procurement processes, we are testing one of several possible applications to increase transparency directly beyond our suppliers.“
German automobile company Porsche AG, "trends, new technologies and business models" to access the blockchain had announced that the initiatives. In recent weeks, Japan's major trading company, Itochu Corporation, has announced that it has developed a chain-supported traceability system that allows buyers and sellers to record transaction details on their supply chains.
