Blockchain for suppliers
Bank of Ayudhya Plc ( Krungsri) in collaboration Siam City Cement Plc have sucessfully developed the Krungsri Supply Chain on Blockchain solution for business operators.
For the first time in Thailand, the blockchain technology is deployed to facilitate the supply chain business. The technology will not only increase flow efficiency, improve credibility and transparency of business-to-business transaction data shared, but also help small-sized SMEs which are lower-tier suppliers in having better access to financing. The project is currently conducted under the Bank of Thailand's Regulatory Sandbox guidelines, Sayam Prasitsirigul, Krungsri Head of SME Banking Group said yesterday.
He added that It will not only facilitate Siam City Cement's business flow, but also provide the company's entire-network business partners convenience in all financial transactions. The company strongly believe that the solution will significantly transform the supply chain ecosystem.