Blockchain and Distributed Ledger Technologies (DLT) have emerged as an effective enterprise transformation tool. They provide capabilities beyond traditional databases to share data and manage workflow throughout an enterprise and across its ecosystem of customers, partners and suppliers in a trusted manner without central control.
Blockchain for the enterprise is a specialised workflow automation tool that, when applied properly, is a powerful cross-enterprise transformation instrument. However, at CGE’s Digital Supply Chain Institute (DSCI), our research has shown that success stories remain elusive because of difficulties in forming the blockchain ecosystem or network, determining network and data governance, and complying with government data regulations. It is this last element that forms the basis of this paper.
As with many exciting new technologies, the hype surrounding blockchain has been extreme and prompted a tidal wave of company experimentation that has proven one thing: blockchain is not a good fit for all applications, but for some it is an exceptional fit. This paper examines one such exceptional fit for the shipping industry, in the context of compliance with the European Union’s General Data Protection Regulation (GDPR).
Rob Sumroy (partner), Duncan Mykura (associate), Ian Ranson (associate)
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