SAP SE has announced that 27 of the company’s clients and partners, have joined its blockchain initiative, which aims to integrate the technology into more areas, such as manufacturing, the Internet of Things (IoT), and digital supply-chain management. The German-based software company is offering its SAP® Cloud Platform Blockchain service for the initiative, and the total market value of the 27 companies showing interest in it, stands at $819 billion.
SAP, with the full original name “Systeme, Anwendungen und Produkte in der Datenverarbeitung” or its English equivalent “Systems, Applications & Products in Data Processing,” made the announcement on November 14 at the SAP TechEd Barcelona event.
The companies which agreed to collaborate with SAP come from various industries, including telecommunications, retail, logistics, pharmaceuticals, high-tech, energy and utilities, industrial machinery, aerospace and defense and agriculture.
Hartmut Mueller, Senior Vice President of Business Solutions at Deutsche Telekom IT, said:
“At Deutsche Telekom, we see a big potential for blockchain technology in the telecommunication business. Our cooperation with SAP will speed up digitalization to the benefit of our customers.”
SAP also announced that it would become part of Alastria Consortium in Spain and the Blockchain in Trucking Alliance (BiTA), in an effort to stimulate the integration of DLT into a wide array of markets. Earlier, we reported that Spain’s Alastria aims to become a nationwide blockchain ecosystem that connects banks, telecom companies, energy companies, universities, and other entities.
Meanwhile, BiTA promotes the standardization of blockchain technology in freight and transportation management.
The companies participating in the SAP initiative show great interest in blockchain technology. Joe Peraino, Director of Center of Excellence at Benjamin Moore & Co, a paints producer, said:
“Benjamin Moore & Co. is interested in exploring blockchain technology to streamline operations and improve efficiencies throughout our supply chain. Our company is particularly eager to explore possibilities with transportation management and simplify the complexities that exist in today's paper-based systems. This type of digital innovation helps Benjamin Moore & Co. deliver on one of our strategic goals — ease of doing business.”
Dr. Tanja Rueckert, president of IoT & Digital Supply Chain at SAP, said: “Our customers and partners are eager to join SAP in embracing blockchain as a distributed ledger that can increase transparency and collaboration. We are equally eager to co-innovate with the world's leading companies to reimagine a future where blockchain is woven into the fabric of the digital value chain.”
SAP is working with clients and partner companies to determine use cases for DLT and establish a framework of standards to help wider adoption. The company offers a number of solutions created based on SAP Leonardo IoT capabilities, including:
SAP Asset Intelligence Network
SAP Distributed Manufacturing
SAP Transportation Management
SAP Global Track and Trace
SAP Advanced Track and Trace for Pharmaceuticals
SAP SE is also part of the Hyperledger Project along with Airbus SE, Baidu, Cisco, IBM, and NEC among others.