“Process Chain” Research Project Based on Blockchain Launches
GERMANY – MARCH 1, 2018 – Mansystems, the leading provider of IT solutions created using low-code application development platforms, in collaboration with three industry partners today launched a “Process Chain” research project using a grant provided by the Federal Ministry of Education and Research (BMBF). The project aims to use blockchain software to transform how digital supply chains are both constructed and managed.
Valued at €1 million, the two-year blockchain research project is being led by Mansystems in cooperation with the German Research Center for Artificial Intelligence (DFKI), brainbot technologies AG and Process Analytics Factory GmbH (PAF).
The project will lead to the development of a framework for creating “Smart Contracts” as well as the tools required to monitor decentralized businesses processes spanning an instance of an immutable distributed blockchain database platform.
The “Process Chain” research project is based on the same blockchain technologies to process transactions used by cryptocurrencies such as Bitcoin. Smart contracts based on blockchain databases will be used also to modernize supply chain management by eliminating the need for a centralized database managed by a single party to verify all transactions.
The goal of the project is to reduce transaction costs by enabling the building of digital supply chains that simultaneously enhance data security.
“We are looking forward to the launch of the new Smart Contracts project,” says Dr. Josef Burgard, project research manager for the project and principal consultant for Mansystems. “With the support of the BMBF and our project partners, we will enable organizations to create counterfeit-proof cross-company electronic contracts to enable digital transformations.”
Once a pilot framework is created for managing a digital supply chain, the members of the project expect to apply the same framework across a broad range of vertical industry segments, including insurance and health care.
Mansystems takes customers on a journey to digitalize their businesses. Our consultants create a space in which innovation blossoms. These new ideas need to be realized fast but also first-time-right to create trust in the innovation process. That’s why we build applications fast using the Mendix and SAP RAD platform and first-time-right using our own Quality & Control solutions. And, we maintain these applications in our certified support center. All the while in this journey, we empower our customers with the Mendix Academy to become independent in innovating and building their own applications, giving the customer the power to build on top of the first success and giving them the best return-on-investment to keep innovating.
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