Published on the 24th April 2019
Supply chains are becoming increasingly digital. A central requirement of these digital business networks is the ability to effectively make use of partners in a trustworthy way. As such, organizations need a comprehensive system for the verification and management of digital business identities that is both dynamic and trustworthy. Despite recent improvements in digital identity verification systems, they need further development to support the supply chains of the future. New demands on the digital identities of legal entities and possibilities for supply-chain organizations will likely be ushered in by the Fourth Industrial Revolution – with shifts enabled by the internet of things (IoT), artificial intelligence (AI) and, in particular, distributed ledger technology. The pace of development is faster than ever before, and decision-makers need to re-evaluate the systems they have in place to manage digital identities.
Henrik Hvid Jensen, Senior Blockchain Advisor, Trustworks, Denmark Nadia Hewett, Project Lead, Blockchain and Distributed Ledger Technology, World Economic Forum, United States