Samantha Stein (@steinsamantha)”> Tradeshift, a procure-to-pay supply chain management platform for SMBs and enterprise, announced Tradeshift Frontiers, an innovation lab and incubator that will focus on transforming supply chains through emerging technologies, such as distributed ledgers, artificial intelligence and the internet of things. “The use cases we’re working through Frontiers cover a very wide variety of themes, including supply chain financing, asset liquidity, and supply chain transparency,” said Gert Sylvest, co-founder and GM of Tradeshift Frontiers.
“There is so much more potential than just cryptocurrencies.” In the supply chain, as on Tradeshift’s commerce platform, every interaction is based on questions of trust and transparency, which require strong business and governance models. One of the best use cases for blockchain is supply chain innovation. Initial applications include Everledger’s blockchain application for the diamond supply-chain to determine provenance, and the Estonia e-residency program powered by decentralized identity management. Blockchain’s shared ledger offers traceability and transparency — the features underpinning the business transactions and trading relationships that comprise our global supply chain.
Tradeshift’s quick ascent from a small Danish startup to a massive player in the global supply chain over the last 8 years, on track to process $500B USD in transaction value this year, could provide both a network adoption effect for technologies like blockchain across the global supply chain and valuable data at scale to transform supply chains. According to Tradeshift’s CEO, Christian Lanng, Tradeshift already powers 150 out of the 500 fortune 500 company supply chains.
“The trade volume across Tradeshift’s platform is greater than the combined trade volume for Ethereum and Bitcoin combined over the last year, and that’s a huge portion of global GDP that can be made available for developers in the form of open-source data,” said Lanng. There are hundreds of accelerators, labs, and venture studios attached to major corporations, but Frontiers wants to set itself apart through an open-source ethos.
Through providing developers with access to their aggregate open-source data, the ability to build third party applications on their platform, and sponsorship for published research, Frontiers can build the ecosystem around supply chain to ultimately benefit the industry and its position within the space. The accelerator arm will include investments from Tradeshift and their ecosystem partners, joint ventures, and licensing models. Read more from techcrunch.com…
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