OriginTrail (TRAC), the blockchain-powered data exchange protocol for interconnected supply chains, has partnered with BSI, a leading business improvement company serving businesses across various sectors such as aerospace, built environment, food, healthcare, and more.
The partnership will see OriginTrail delivering blockchain-enabled solutions to various businesses working with BSI to enhance their global assessment, certification, and supply chain services.
What Exactly Does BSI Do?
In a world where there is a constant movement of goods and services between global supply chains, it is very difficult to really know the integrity of these supply chains and the claims of the manufacturers and suppliers.
BSI helps companies and organizations achieve excellence in their business operations to ensure all aspects of the business are trusted and verified. BSI has been doing this since 1901, and currently works with over 80,000 clients across 172 countries and conducts 250,000 audits every year.
They help businesses achieve proper employee work conditions, security compliance, and see that the authenticity of their products and origins of materials used are verifiable and trusted.
BSI also helps businesses ensure their health and ethics labels such as “organic”, “local” or “responsibly sourced” are true and accurate. Their services extend beyond what’s said here, but overall, they help businesses improve standards.
Another point worth mentioning is that BSI developed the world’s most successful standard that has been adopted by more than a million organizations— the quality management systems standard, ISO 9001 — in 1979. Additionally, 8 of the 10 most popular standards ion use today were created by BSI.
Today, BSI continues to have a hand in developing standards for key industries such as food safety, IoT, health management, environmental standards, and more.
The OriginTrail and BSI Partnership
Since OriginTrail is a blockchain protocol for connecting global supply chains, the blockchain solutions and technology they provide will help build on BSI’s expertise in compliance, assessment, and certification in supply chain matters.
OriginTrail and BSI will work together to develop blockchain-based solutions to ensure businesses and organizations can prove the integrity of their global operations. It is essential that the claims these businesses and organizations make can not only be trusted but verified through the power of blockchain technology.
Commenting on the partnership, Howard Kerr, Chief Executive of BSI, said:
In today’s increasingly interconnected world, transparency and traceability throughout the supply chain is vital. This strategic partnership aims to provide our clients with the ability to demonstrate the authenticity of their compliance through the digital records of the assessments and certifications they have achieved from BSI. Ultimately building trust and confidence as consumers and business partners can easily verify the provenance of the goods and/or services they are buying.
The industries in which OriginTrail’s blockchain solution should prove especially useful are the food industry, healthcare, and the built environment (smart cities and digital buildings). These sectors all have very complex supply chains and are also highly regulated, which makes blockchain tech especially useful in them.
According to OriginTrail, the partnership will help BSI clients to:
- Comply with regulation and standards
- Meet customer expectations concerning products features and claims (safety, quality and other attributes)
- Manage business risk, product quality and reduce the cost of non-conformities
- Be able to effectively manage product recalls with near-real-time corrective action
- Extract more value out of data already generated in global supply chains
BSI clients can now apply for early access to OriginTrail’s blockchain services in the pre-release stage.