Friday, August 25, 2017

SAP Ariba Gets in Blockchain Game

SAP to join Hyperledger community, SAP Ariba to build new capabilities into applications and Ariba Network to transform global supply chains

LAS VEGAS, NV – March 22, 2017 – Blockchain is among the most disruptive technologies of the day. From banking and insurance to agriculture, energy, healthcare, and media, it is shaking-up entire industries and is about to transform global supply chains, thanks to SAP Ariba. The company today unveiled plans to leverage blockchain across its cloud-based applications and business network to upend the way goods and services are traded.

“Twenty years ago, SAP Ariba bet big on a fringe technology called the Internet and pioneered a totally new model for buying and selling,” said Joe Fox, Senior Vice President, Business Development and Strategy, SAP Ariba. “True to our roots, we are again investing at the edge of technology to drive innovations in business-to-business collaboration that will change the game.”

At its core, blockchain is a digital ledger that can be used to drive business processes involving multiple parties. “One of the things blockchain does is facilitate greater visibility and trust,” Fox said. “In embedding it across our applications and network, we can enable supply chains that are smarter, faster and more transparent from sourcing all the way through settlement.”