You have invested a great deal of time and money in your EDI system, but now, you are hearing that blockchain is going to replace EDI completely. You are confused, irritated, and worried. Questions swirl around you, such as, “Will I have to replace my investment, is EDI dead? How does blockchain work, and can it work with EDI?”
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The world depends on EDI, it has for decades. But the world is changing and with it, the future of EDI is evolving. Read the IBM point of view regarding the future EDI and blockchain.
Toward the end of May 2018, one of the broadest, most sweeping privacy regulations ever devised will come into effect, the EU's GDPR. Not only will these regulations have a direct impact on European businesses, they will affect companies globally that process or store the personal data of EU citizens living in the EU. Firms that do not comply with GDPR face hefty fines.
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Blockchain has made headlines for its transformative capabilities. It can revolutionize so many fields and industries, the supply chain included. However, as with many topics that have made the headlines, blockchain still raises many questions.
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Blockchain has the opportunity to transform the supply chain. It will make the supply chain more transparent, allowing greater traceability to make the supply chain more effective and reliable. At the same time, a number of blockchain projects aim to reduce fraud.
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