Procurement 4.0 and the Fourth Industrial Revolution by Bernardo Nicoletti

Author:Bernardo Nicoletti
Language: eng
Format: epub
ISBN: 9783030359799
Publisher: Springer International Publishing

Besides reducing bureaucracy, this blockchain solution provides end-to-end transparency of the entire process, dropping the barriers of fear and distrust that often hinder things, especially for small organizations when they operate in new markets, for example foreign ones.

Tradle54

Tradle is a startup. It can store information with high resilience to potential hackers and cyberattacks.55 It has created a platform to compensate for the limitations of normal blockchain solutions, such as low throughput of transactions, data storage limits, absence of transactional semantics, and the high cost of the calculations.

Trust in Motion (TIM) is an application of Tradle on this platform.56 It allows users to initiate a secure line of communication and go on-the-record for the exchange of confidential documents, checks, assignments, and agreements. The resulting records are stored securely and irrevocably, with high resilience to hackers, unauthorized access, and a remarkable ability to respond to many needs.

This allows, for instance, financial institution partners to share data with their customers. The organization’s financial institution partners can offer a very quick process and simplified ordering of a product without requesting data which are already in the possession of the financial institution.

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