World Economic Forum sets out plan for real-world blockchain deployment

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The World Economic Forum has published a roadmap for blockchain deployment, part of a new toolkit for businesses implementing blockchain technology in real world applications.

In particular, the NGO said its blockchain deployment toolkit would provide a guide to building better supply chains, powered by distributed ledger technology. According to the report’s authors, the case for greater reliance on blockchain technology is made stronger by the current global health pandemic.

“The case for blockchain is stronger as the COVID-19 pandemic underscores the need for more resilient global supply chains, trusted data and an economic recovery enabled through trade digitization.”

Nadia Hewett, head of digital currency at the World Economic Forum, Nadia Hewett, said the pandemic provided businesses with the chance to improve their systems.

“This time we really do see a big momentum behind making sure this time that they capture the momentum and that we bake into our solutions day-to-day elements but also that could help during a disruption.”

“Post-COVID, that future state, let’s work toward and shape the outcome in a way that promotes interoperability, integrity, and inclusivity.”

Having worked with private and public sector bodies, the toolkit and corresponding deployment guidance can be used for end-to-end deployments of blockchain systems.

“You can use it to navigate end-to-end for deployment guidance, you can choose the specific topic of interest for you or your team,” according to the organization.

Hewett said the toolkit could prove especially useful in parts of the world and at stages of the supply chain where information has more marginal value, helping empower more firms to get a better deal.

“We can put this in the hands of those parts of the world, those parts of the supply chains, where they’re not empowered with information to negotiate good positions for themselves. We really hope to see this put power back in the hands of those SMEs.”