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27 companies join SAP's blockchain initiative

Firms aim to find ways that blockchain can be used in a range of industries

27 companies join SAP's blockchain initiative
27 companies join SAP's blockchain initiative
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German software giant SAP has added 27 new customers and partners to its blockchain initiative, which aims to transform the enterprise.

The companies, which boast a total market value of $819bn, will support SAP in finding ways that blockchain technologies can be used in a range of industries.

SAP wants to bring blockchain to IoT, manufacturing and digital supply-chain solutions. The firm said it will integrate the digital ledger system into a variety of tech ecosystems through the SAP Cloud Platform Blockchain service, which is available to B2B users.

It announced the news at the TechEd conference in Barcelona, which kicked off on Monday, and the participating companies come from all over the world.

They cover industries such as consumer products, telecom, retail, pharmaceuticals, logistics, agriculture, high-tech, aerospace and defense, industrial machinery, energy and public services.

Through the initiative, the firms will develop new use cases for blockchain with an aim is to standardise the technology so it can be adopted into the wider supply chain, according to SAP.

SAP is already experimenting with a plethora of applications, and the Asset Intelligence Network is one of them. It's a cloud-based business network and registry of equipment that allows firms to share asset information.

During the first day of the event, the company confirmed it's to join Spain's Alastria Consortium and the Blockchain in Trucking Alliance (BiTA), with the aim of expanding the adoption of blockchain.

Alastria brings together banks, telecom providers, energy companies, universities, smart-city organizations and developers, and it'll allow SAP to expand its blockchain ecosystem and network in Europe.

And, as a member of BiTA, the firm will help promote the development of blockchain standards and education. In particular, it'll focus on freight and transportation management.

Dr. Tanja Rueckert, president of IoT and digital supply chain at SAP, said: "Our customers and partners are eager to join SAP in embracing blockchain as a distributed ledger that can increase transparency and collaboration.

"We are equally eager to co-innovate with the world's leading companies to reimagine a future where blockchain is woven into the fabric of the digital value chain."

Joe Peraino, director of the centre of excellence at Benjamin Moore & Co, said: "Benjamin Moore & Co is interested in exploring blockchain technology to streamline operations and improve efficiencies throughout our supply chain.

"Our company is particularly eager to explore possibilities with transportation management and simplify the complexities that exist in today's paper-based systems. This type of digital innovation helps Benjamin Moore & Co. deliver on one of our strategic goals — ease of doing business."

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