SAP Blockchain

What is Blockchain?

Blockchain is an open, decentralized database of transactions. These transactions may pertain to financial transactions or transactions related to goods or services and types. The fundamental underlying idea is that every transaction is validated by everyone who is part of the network. Each knot or node in the blockchain system is tied to the one before it. If a swatch or transaction is missing, it would be noticed.

What is SAP Leonardo Blockchain?

With blockchain, SAP has the potential to help customers solve problems in multiple industries, with solutions such as the SAP Leonardo Blockchain service. The SAP Leonardo Blockchain is connected to the SAP Cloud Platform on top of SAP HANA and SAP Vora. It integrates a blockchain system with the Internet of Things and machine learning on a single platform. What this means for users is that they can add it to their existing systems to address issues such as fraud detection, improved inventory and supply system tracking and management, and improved storage of products.

What is Blockchain?

Blockchain is an open, decentralized database of transactions. These transactions may pertain to financial transactions or transactions related to goods or services and types. The fundamental underlying idea is that every transaction is validated by everyone who is part of the network. Each knot or node in the blockchain system is tied to the one before it. If a swatch or transaction is missing, it would be noticed.

What is SAP Leonardo Blockchain?

With blockchain, SAP has the potential to help customers solve problems in multiple industries, with solutions such as the SAP Leonardo Blockchain service. The SAP Leonardo Blockchain is connected to the SAP Cloud Platform on top of SAP HANA and SAP Vora. It integrates a blockchain system with the Internet of Things and machine learning on a single platform. What this means for users is that they can add it to their existing systems to address issues such as fraud detection, improved inventory and supply system tracking and management, and improved storage of products.

Traceability Solution

Quality reporting for legal or on-demand reasons is a lengthy and costly process. Quality managers spend a lot of time generating quality reports for specific parts, either by engaging in several lines of communication with various suppliers or by accepting lengthy processes on the supplier side. Suppliers need to report parts traceability data either manually or by filling in information in several OEM-specific systems. By using blockchain, a single source of truth can connect buyers and suppliers — a common data model for parts traceability for immediate update/flagging of problematic parts.

Key Consideration for SAPinsiders

Blockchain is not just another emerging technology but a powerful tool that, when leveraged prudently, can transform the way businesses operate. There are multiple ways to infuse blockchain-enabled capabilities in your business. Some key areas that SAPinsiders should explore are:

Streamline and simplify your business processes: Many business processes within your organization may be multiparty. Such complex multiparty processes can be streamlined and simplified with distributed ledgers.

Address business needs: Leveraging blockchain ecosystems can help address challenges like visibility and control in regulated industries like food and pharmaceuticals. Similar needs can be addressed in other industries like retail and finance.

Drive Innovation: Blockchain can be combined with other emerging or established technologies to create new products, services, or new operating models altogether.