ShipChain has been selected by the World Economic Forum (WEF) as one of the roughly 100 supply chain companies and experts that will help build and come up with the parameters for the Blockchain Toolkit. ShipChain CEO, John Monarch, will be the primary delegate.

According to the WEF’s formal announcement made on May 1, 2019, “the multistakeholder group will co-design an open-source roadmap or toolkit to guide supply chain decision-makers towards blockchain deployment. It will highlight technical and non-technical drivers of success, risks and recommendations as well as requirements.”

WEF aims to navigate around the blockchain hype and provide credible and proven information. The group is part of WEF’s Redesigning Trust: Blockchain for Supply Chains project, which aims to make blockchain technology accessible to all. This project is undertaken as a part of WEF’s Center for the Fourth Industrial Revolution, based in San Francisco, CA.

The stimulus behind the initiative is that “blockchain” has become somewhat of a buzzword in recent years, and it is important to take a deeper dive to understand its true applications and limitations in the industry. The supply chain experts tapped for this project will provide their real-world use cases and experiences in order to shape the Blockchain toolkit so that it contains the most accurate and up-to-date resources.

As per Supply Chain Dive, “WEF will ensure blockchain will bring transparency and uniformity within the supply chain industry, ensuring that the technology is implemented in a responsible and ethical way.”

So far, the project has received a huge amount of public support from members of the shipping and logistics industry and different governments. WEF will release monthly papers highlighting and expanding upon different aspects of blockchain technology. ShipChain will be contributing directly to these papers, at formal meetings and events, as well as the strategy and behind-the-scenes of the Blockchain toolkit.

For more information about WEF and the Blockchain Toolkit project, please visit their website.