Focus on Standards for Blockchain Supply Chain Collaboration
Global business communications standards organisation GS1® has announced a collaboration with IBM and Microsoft to leverage GS1 Standards in enterprise blockchain applications for supply chain clients. GS1’s global standards for identification and structured data enable blockchain network users to scale enterprise adoption and maintain a single, shared and accurate version of supply chain and logistics events, thereby increasing data integrity and trust between parties, and reducing data duplication and reconciliation.
Data stored or referenced by blockchain networks can be structured for shared communications and interoperability through the use of standards. GS1 and ISO open standards of Electronic Product Code Information Services (EPCIS) and Core Business Vocabulary (CBV) enable standardised exchange of data and item-level tracking.