On October 1, Enigio’s Advisor, Hrvoje Stancic had been invited as a panellist at the Horasis Extraordinary Meeting where the weaknesses in global supply chains caused by COVID-19 were discussed.
The inability to physically transfer contracts such as bills of exchange between two parties effectively disrupted business-as-usual with such negotiable instruments. Hrvoje pointed out that Enigio’s trace:original solution offers unique functionality to create and manage digital originals. He explained,
Enigio is able to re-conceptualize digital paper and offer a blockchain-based solution in which you can have one digital original and as many copies but still distinguish the original, and the rights coming out of the fact that you are a rightful owner, from all other copies. Anyone having a copy can see the content but cannot benefit from it, sell it, transfer it to another person, or invalidate it – only the person in possession of the original can.
Therefore, the supply chain sector can benefit from the digitization of negotiable documents like bills of exchange, leaning on the blockchain principles in the process.
The panel concluded that the governments should establish an open channel of communication and discussion with academia where the primary research is done and industry where innovations stem from, in order to create a virtuous circle for everyone’s benefit.