Blockchain Technology to Drive More Efficiency Into the Cisco Supply Chain
Blockchain is democratizing innovation, says Anoop Nannra
Cisco’s Tech Strategist Says Blockchain Is Democratizing Innovation
Blockchain technology is democratizing innovation just like the Internet has democratized access to information over the last 20-25 years. This is the train of thought of Cisco’s (CSCO) Tech Strategist, Anoop Nannra, at the Mobile World Congress 2018. “In the blockchain space, with the blockchain technology that’s emerging, what we’re seeing is a dramatic change where blockchain has the ability and is actually democratizing innovation itself.”
For Nannra, who heads the blockchain / DLT initiative at Cisco, blockchain technology is enabling people to create change, and deliver change in the world. The amount of collaboration and true open source innovation that is happening at grassroots levels is what fascinates him.
A key challenge that remains, according to Nannra, is the absence of “a killer application.” So when Cisco (CSCO) started doing its investigations into blockchain and its application in enterprise, it realized that the supply chain is an interesting opportunity; an interesting space where there’s significant value that can be extracted, Nannra told TechRepublic.
So Cisco, which runs one of the most efficient supply chain operations, now intends to use blockchain technology to drive more efficiency into its supply chain network, more authenticity and efficacy around how data, goods and products and services are actually delivered and moved, while in the process extracting value for the ecosystem.
How Could Blockchain Accelerate Growth at Cisco?
Nannra sees blockchain having the ability to:
- Lend more transparency to the ecosystem
- Drive out risk
- Drive out some additional cost from the established supply chain ecosystem.
The tech strategist already sees a transition happening from supply chain systems and supply chain networks to almost demand chains. And for Cisco, the opportunity lies in leveraging its existing base of trust built around the genesis of high-quality and high-delivery reputation, to accelerate the growth of its ecosystem by embracing blockchain technology.
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