AT&T’s blockchain tools, which will function with the IBM Blockchain Platform for storing data and Microsoft Azure’s blockchain technology, aspire to “bring additional transparency and accountability to even the most complex supply chains” for its enterprise clients.
The telecom company’s blockchain-based tool aims to build the digitization of enterprise clients’ business processes, citing that businesses such as manufacturing, retail, and healthcare can utilize the solutions.
Commenting on the launch of blockchain tools, Andy Daudelin, vice president at AT&T, said
“transforming the way many companies conduct business. Blockchain improves security and enables better management of transactions through complex processes.”
Earlier in August, Microsoft’s cloud platform Azure had declared the launch of a new Ethereum (ETH) proof-of-authority (PoA) algorithm that would permit for a “more efficient” way of creating decentralized applications (DApps).
Furthermore, in August, IBM, along with Danish transport and logistics giant Maersk, launched a blockchain solution involving 94 associations and 154 million shipping events.
It can be remembered that AT&T was slapped with a $224 million lawsuit by a cryptocurrency investor in August alleging the phone carrier of “gross negligence”, leading to a loss of $24 million in cryptocurrency.