Accenture Will work With Thailand’s Oldest Bank to Release Blockchain Source Chain Software

World administration consultancy business Accenture declared it experienced partnered with a subsidiary of Thailand’s oldest lender on a new blockchain resource aimed at source chains in a push release Wednesday, Oct. 17.

In the newest implementation of the technology for Accenture, the enterprise partnered with Siam Professional Bank’s fintech subsidiary Electronic Ventures Co. Ltd on the blockchain option, which has presently gone stay with its very first clients.

Identified as Procure-to-Pay or B2P, it leverages R3’s Corda technology as its basis, the release confirms.

Divyesh Vithlani, head of Accenture’s Economical Solutions follow in the ASEAN location commented:

“The most exciting component of the blockchain resolution is that the consequence is so tangible: the efficiency improvement, the price tag reduction and the benefit that all stakeholders have experienced with this system.”

As Cointelegraph has often noted, source chains stand for an very intricate sector, as a end result of which a number of actors have begun implementing blockchain-dependent innovation in the sector.

The know-how could offer reductions in charge and processing situations although beefing up protection and removing middlemen and the accompanying inefficiencies, the launch notes.

According to the Oct. 17 release, SCG — a company conglomerate that also served develop the blockchain instrument — its introduction has “shown that the new platform has improved the efficiency and transparency for all events throughout the procurement provide chain course of action.”

Accenture has focused provide chains with blockchain right before, in July partnering with Thales on an aerospace industry integration as perfectly as publishing a blockchain logistics patent formerly submitted in January.

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