BSD joins the Blockchain for Social Impact Coalition (BSIC)
Blockchain for Social Impact Coalition (BSIC) incubates, develops, and implements confederated blockchain products and solutions that can address social and environmental challenges across the United Nation’s Sustainable Development Goals.
BSD is proud to join BSIC to support the development and implementation of blockchain technology to address sustainability challenges. Blockchain is a global technology for collecting, exchanging and communicating information in a manner that improves efficiency, trust and transparency.
One of the most promising applications of blockchain technology is to improve transparency in global supply chains, which has always been a particularly intractable problem for businesses to solve.
Applying blockchain technology in the supply chain can enable more transparent and accurate end-to-end tracking in the supply chain and drive increased supply chain transparency to help reduce fraud for high value goods. Furthermore, it can help businesses maintain more control over outsourced contract manufacturing while streamlining administrative processes and reducing costs by enabling an effective audit of supply chain data.
As such, the technology can help to strengthen corporate reputation through providing transparency of materials used in products, improve creditability and public trust of data shared, reduce potential public relations risk from supply chain malpractice and engage stakeholders in a more meaningful way.
BSD is excited to be part of a coalition to implement this innovative technology in furthering sustainability goals. We look forward to new possibilities to make meaningful change!