Tech giant IBM (NYSE:IBM) and blockchain company Chainyard have jointly developed a new blockchain network for supply chain management. IBM announced the platform in a press release shared with Cointelegraph on Aug. 5.
Alongside IBM, the Trust Your Supplier network’s founding members are also American brewing company Anheuser-Busch InBev, tech companies Cisco (NASDAQ:CSCO), Lenovo, Nokia (HE:NOKIA), Schneider Electric (PA:SCHN), British pharmaceutical company GlaxoSmithKline and telecoms company Vodafone (LON:VOD). The product is built on the IBM Blockchain Platform and aims to eliminate manual time-consuming processes and help reduce the risk of fraud and errors.