Position Paper "Blockchain and Smart Contracts" published
The department for Procurement and Finance in Supply Chain Management researches and develops solutions at the interface of logistics and financial processes. Close cooperation with partners from industry and the financial sector ensures that research is always up to date. In this way, promising innovations can be investigated at an early stage.
Blockchain technology and its enormous disruptive potential for companies' business processes have developed a great momentum in 2017. With focus on the effects and applications of Blockchain and Smart Contracts in the supply chain area, the Blockchain demonstrator was developed. With the help of this tool, the functionality and application possibilities of the Blockchain could be explained to the audience in a playful way, e.g. at the Inclusive SCF Conference in Frankfurt and the 52nd Symposium on Purchasing and Logistics in Berlin.
In addition, Commerzbank is a strong partner for a more in-depth project. The Financial Supply Chain Management 4.0 project will jointly develop new business models in trade finance and examine the influence of the physical supply chain on the financial supply chain in 2025. The requirements identified in Design Thinking Workshops with Commerzbank customers will eventually culminate in the development of blockchain-based solutions.
At the end of the year, research in this area was included in Fraunhofer’s strategic position paper Blockchain and Smart Contracts. Together with other Fraunhofer institutes, scientific and application-oriented aspects of the Blockchain technology are investigated herein. In particular, it deals with possible applications and technical research questions.