Major enterprise contract management service Icertis will expand its contractual offering with Microsoft.
Major enterprise contract management service Icertis will collaborate with Microsoft to expand its blockchain-based contract solution, the company announced on June 11.
By entering the collaboration, Microsoft will help Icertis to extend its Icertis Blockchain Framework, which is designed to enhance the transparency and efficiency of contractual frameworks using smart contracts technology.
The Icertis Blockchain Framework offers a blockchain-powered solution to track contractual requirements and commitments, improving the quality of collaboration and accountability. The tool aims to solve various problems associated with contractual arrangements on the supply chain, including combating the use of child labor, conflict materials and tainted food distribution, as well as tracing pharmaceuticals.
Specifically, the new partnership expands blockchain applications to contract management by implementing the Microsoft Azure Blockchain Workbench for Icertis Contract Management (ICM) platform for clients worldwide. The collaboration will also connect Microsoft Azure Cognitive Services components and the Icertis Blockchain Framework with the ICM platform, the press release notes.
In February 2019, Icertis deployed its blockchain framework within a joint initiative with German vehicle brand Mercedes-Benz Car to assist in ensuring that its global sourcing and contracting practices comply with Mercedes-Benz Cars’ strict requirements for working conditions, human rights and environmental protection, among others.
Recently, Cointelegraph reported on the United States seafood trade association National Fisheries Institute working with IBM’s blockchain supply chain solution Food Trust to trace seafood with distributed ledger technology.
Source: , CoinTelegraph
Articles listed with Cash Tech News as the author are either general information, or may have been imported from another website, to bring our readers a rich media experience that encompasses articles that we find interesting, as well as those curated by others.
The views and opinions expressed here are for informational purposes only, and should not be confused with professional financial advice. These opinions are solely those of the author and do not necessarily reflect the views of CashTechNews.com. Every investment and trade involves risk. You should conduct your own research, and contact your professional financial advisor before making any investment.
Corrections, feedback, and ideas should be submitted through the website contact form.