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Accenture Works With Thailand’s Oldest Bank to Release Blockchain Supply Chain Tool

Global control consultancy company Accenture introduced it had partnered with a subsidiary of Thailand’s oldest bank on a brand new blockchain software aimed toward supply chains in a press release Wednesday, Oct. 17.

In the newest implementation of the generation for Accenture, the corporate partnered with Siam Commercial Bank’s fintech subsidiary Digital Ventures Co. Ltd at the blockchain answer, which has already long gone are living with its first shoppers.

Known as Procure-to-Pay or B2P, it leverages R3’s Corda generation as its foundation, the discharge confirms.

Divyesh Vithlani, head of Accenture’s Financial Services apply within the ASEAN area commented:

“The most exciting part of the blockchain solution is that the outcome is so tangible: the efficiency improvement, the cost reduction and the convenience that all stakeholders have experienced with this platform.”

As Cointelegraph has ceaselessly reported, provide chains constitute a particularly advanced business, because of which multiple actors have begun enforcing blockchain-based innovation within the sector.

The generation may just be offering discounts in price and processing instances whilst beefing up safety and disposing of middlemen and the accompanying inefficiencies, the discharge notes.

According to the Oct. 17 unlock, SCG — a trade conglomerate that still helped broaden the blockchain software — its advent has “shown that the new platform has improved the efficiency and transparency for all parties across the procurement supply chain process.”

Accenture has focused provide chains with blockchain prior to, in July partnering with Thales on an aerospace business integration in addition to publishing a blockchain logistics patent in the past filed in January.

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