LSC-SIG Project Proposals

Verification of signatures and goods to ensure identity.

Know Your Supplier (KYS) refers to the ability to identify, verify, and endorse any stakeholder an entity wishes to conduct or continue to do business with. All stakeholders using the platform can benefit from:

• onboarding simplification,
• a shared information repository (i.e.relationship history, the provenance of goods purchased, associated supplier quality certificates), and
• reporting capabilities.

Smart Contracts & Defining Rules for Digital Identifiers

What type of blueprints are most useful for making up the “if” and ‘then” logic of blockchains based smart contracts to increase supply chain efficiency.  Would it be useful for this working group to suggest best practices for this type of work?  Sample suggested smart contract templates could be:  Smart contracts could be created to store and manage meta-data and events associated with supplier onboarding and relationship maintenance, such as:

1. Supply chain details (i.e., product components and associated lifecycle)
2. Quality certifications approved by regulated bodies (i.e., approved body, date, expiry data, date of the last testing)
3. Endorsements are given by stakeholder (i.e., wholesaler, restaurants or end consumer based their own experience, reviews of the food quality)

Simplifying EDI with Blockchain

• Blockchain can replace the bilateral relationships and become the common platform where all parties plug into. Currently, two parties need to establish a relationship before implementing EDI. Blockchain, on the other hand, does not require a pre-existing relationship. Companies get the benefit of having to register just once, after which you can reach out to millions of business partners.
• Besides, the information that is going to be pushed onto the blockchain, such as shipment tracking info, is what’s already being shared. That is to say, companies are already comfortable with sharing this type of info.