If you work in the supply chain, you may have heard of keeping and sharing records by using blockchain. When it comes to your B2B integration, blockchain can be a great investment. It even can enhance your EDI. In this article, we’ll examine what blockchain is, how it relates to EDI, and how Data Communication Solutions (DCS) can help you along the way.
What Is Blockchain?
A blockchain is an expanding list of records, called blocks. The blocks are connected via cryptography, the protection of data through the use of codes. Every block includes a cryptographic hash of the prior block, a timestamp, and transaction data.
A blockchain is preserved on a network of servers, where it can be accessed by all relevant parties. Because all of the blocks are connected, a single block can’t be changed without the entire chain being changed as well.
By using blockchain, companies have an easy way to keep track of their transactions and assets. It ensures quick and easy access to information and improves security.
Blockchain and EDI
Since blockchain gives multiple trading partners an easy way to access data, it might seem like it will overcome EDI. However, blockchain and EDI can not only coexist, but enhance one another. EDI is an efficient, reliable technology so it doesn’t need to be abandoned. New technologies like blockchain and leverage your existing EDI.
EDI is focused on one-to-one communication: a transaction is sent from one trading partner to another. When it comes to the exchange of data, however, there are often more than two relevant parties. With blockchain, all trading partners can have access to records of which transactions were sent when. This increases efficiency and ensures that there will be no misunderstanding between trading partners.
Where DCS Comes In
When it comes to navigating the world of blockchain and making the most out of your EDI, you may need some help along the way. This is where Data Communication Solutions (DCS) comes in. Our experienced EDI specialists offer services including development, managed services, support, and training. Learn more about DCS by checking out our flyer and contact us today to help find the best EDI solution for your business!