Is Blockchain Right For Me?
This webinar covers many aspects of leveraging Blockchain for Procurement. The agenda includes:
• ProcureAbility Overview
• What is Blockchain
• What are Smart Contracts
• Procure to Pay Benefits
• Supply Chain Benefits & Use Cases
What is Blockchain
First, Blockchain is NOT Bitcoin. Crypto currencies like Bitcoin run and transact with blockchain technology. So, what is blockchain. Picture a Google Doc for transactions, tracking change history, that’s duplicated on multiple computers called nodes and designed to regularly update itself across the network.
Smart contracts are software code that facilitate, verify, or enforce the negotiation or performance of a contract. They not only define the rules and penalties around an agreement in the same way that a traditional contract does, but also automatically enforce those obligations.
Procure to Pay Benefits
Blockchain technology can disrupt and improve the PTP processes. Operational benefits can be gained with improved speed, lower workload requirements and greater security through better information and data sharing.
These are the highlights of the webinar and if you would like more information about how Blockchain can add value to your organization, please contact us.