How does SAP’s GreenToken work?
GreenToken uses blockchain in two specific areas:asset ownership/transfer (in the form of tokens) and for auditing purposes. A blockchain is a type of database where data is stored in a ledger in the sequence events occurred, creating a ‘chain of custody’ of what happened over time.
Blockchain is considered an extremely trustworthy method of tracking data across the supply chain, creating a level of assurance among supply chain actors and companies who might not necessarily know each other.
Customers can benefit from increased visibility into where raw materials came from and produce products with knowledge about where and how the materials were produced, even in complex, non-batch supply chains.
SAP CEO Chistian Klein sees the company as a supply chain and trade enabler, as it extends its ERP footprint.
More great insight from SAP
Coming up in April across our Technology and Supply Chain magazines, we’ll have an exclusive interview with Andy Hancock, Global Vice President, Center of Excellence, SAP Digital Supply Chain, on supply chain resiliency and service management.
SAP are investing US$2.2bn in IoT and providing solutions to complex problems in innovative ways. Hancock will discuss their mission to Intelligently connect people, things and businesses.
We’ll also be featuring a special report with Lyndsey Spurgin, SAP’s Vice President of Global Marketing Programs, SAP Digital Supply Chain, which will be published across our Sustainability, Manufacturing and Supply Chain publications in May.
