Skip to main content

SCCC to apply blockchain to its supply chain

Published by
World Cement,


Thai cement producer, Siam City Cement Public Co. (SCCC), is to utilise blockchain technology as part of its supply chain management, aiming to ensure transaction transparency and security. The company will be supported by Bank of Ayudhya, whose blockchain technology will be used in the project.

The blockchain technology will support transactions between distributors, shops, and customers, as well as various types of documentation, such as purchase orders, invoices, settlements, and financing for products in SCCC’s supply chain, the cement producer said.

The pilot project also aims to reduce financial costs and transaction process, as well as increase competitiveness.

According to an IBM definition, blockchain is a “shared immutable ledger that facilitates the process of recording transactions and tracking assets in a business network.” Blockchain networks can be used to track and trade virtually anything of value, reducing risk and cutting costs.

Read the article online at: https://www.worldcement.com/asia-pacific-rim/06092018/sccc-to-apply-blockchain-to-its-supply-chain/

You might also like

Sustainability 2020

Sustainability 2020

An online conference focusing on sustainability in the cement industry. Join us for presentations covering topics such as: Alternative fuels, air pollution control, dust control, carbon capture and more. Register for free today »

 

Refractory review

World Cement spoke to Stefan Rathausky, Head of the Cement & Lime Global Business Unit, RHI Magnesita, about sustainability, R&D, and the state of the refractory sector.

 
 

Embed article link: (copy the HTML code below):


 

This article has been tagged under the following:

Cement news 2018