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World Economic Forum launches blockchain Toolkit

Blockchain

The World Economic Forum (WEF) has developed a Blockchain Deployment Toolkit, which includes a set of high-level guidelines documenting tested best practices to address the issues that arise in blockchain implementation projects.

{mprestriction ids="1,2"} The Redesigning Trust: Blockchain Deployment Toolkit enables leaders to maximise the benefits and minimise the risks of the technology. Resilience in supply chains depends on trust, transparency and integrity, which can be improved through the responsible deployment of blockchain technologies that offer a “shared truth”.

The Toolkit comprises 14 different modules. Organisations can use the Toolkit to support more responsible blockchain deployments, de-risk early adoption, and ensure careful consideration of unintended consequences.

The World Economic Forum reports that it spent more than a year working with more than 100 organisations and 50 countries across 6 continents and has dug deep into 40 blockchain use cases ranging from provenance and traceability to automation and streamlined operations.

Two pilot projects were carried out as part of the development of the Toolkit. The first with the Abu Dhabi Digital Authority, which helped the authority to develop and launch its own blockchain strategy and guidance documentation to support Abu Dhabi government entities in implementing blockchain across the public sector’s digital infrastructure. The second was a project with Saudi Aramco that used the Toolkit to aid in completing critical use cases in supplier management and credential verification. With the help of the Toolkit, Saudi Aramco developed a structured approach creating teams to manage credential verification and degree authentication. This approach sliced the work into manageable pieces and ensured realistic milestones could be set and attained.

Read more about the pilot projects.

WEF reports that other projects dealing with COVID-19 are looking to employ the Toolkit.

The Toolkit’s resources aim to streamline blockchain implementation efforts for a diverse range of supply chains and their stakeholders, ensuring continued resilience.

“The blockchain deployment Toolkit is essential for designing solutions that work for a multitude of actors, including smaller players who may not have access to the resources required to unlock the value of blockchain technology,” said Nadia Hewett, blockchain and digital currency project lead, World Economic Forum USA.

“For this reason, the Toolkit can level the playing field for small and medium-sized enterprises. There are many lessons to learn from the current pandemic and this Toolkit is a starting point for improving long-term pandemic preparedness and accelerating an economic recovery led by public-private cooperation.” 

 

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