Blockchain for sup­pli­ers

The Nation - - BUSINESS -

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.

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