var TRINITY_TTS_WP_CONFIG={“cleanText”:”Integrating EDI into Bitcoin will transform supply chains: Dr. Craig Wright on Backstage.u23f8When it was adopted in supply chain management in the 1970s, Electronic Data Interchange (EDI) was deemed the most disruptive technology standard in the sector. Itu2019s still in use today, but as Dr. Craig Wright notes, integrating the standard into Bitcoin could transform the sector.u23f8u201cEDI is very simple to code into Bitcoin,u201d Dr. Wright tellsu00a0 Backstageu00a0reporter Becky Liggero.u23f8u201cGetting people to think about how we might do that is important, and itu2019s not as difficult as people make it out to be. Once you structure all this information, then itu2019s doable. Then, an NFT, rather than having a Bored Ape, can have useful information.u201du23f8At theu00a0Bitcoin Masterclasses #5u00a0in London, Dr. Wright delved into theu00a0integration of EDI and Bitcoin. While EDI gave the supply chain management industry a big push toward digitalization, many of the processes are still paper-based. The digital processes are still slow, costly and suffer from a lack of trust between participants.u23f8u201cWhat weu2019ll be doing is taking the existing system and porting all the existing data and methodology to be stored on Bitcoin. That gives you a rail into utilizing it,u201d he told Backstage.u23f8This integration will especially be beneficial for the smaller players in the system. While the current EDI standards are not up to standard, global behemoths can still tap advanced systems from companies like SAP, Oracle, andu00a0Salesforce. The small businesses who canu2019t afford these expensive systems need a Bitcoin-based EDI system the most, Dr. Wright says.u23f8We live in the digital era where data is the currency. However, Big Tech still ownsu00a0our datau00a0and continues to mint billions of dollars from its users. For years, Dr. Wright has advocated foru00a0Bitcoinu00a0developers to build applications rivaling these legacy systems while giving users ownership of their data.u23f8As he told Backstage, Dr. Wright believes data should be on-chain. Any company can then build their applications and compete for this data by offering the best user experience.u23f8Watch The Bitcoin Masterclasses #5 in London: EDI logistics & tracing goodsu23f8″,”headlineText”:”Integrating EDI into Bitcoin will transform supply chains: Dr. Craig Wright on Backstage”,”articleText”:”When it was adopted in supply chain management in the 1970s, Electronic Data Interchange (EDI) was deemed the most disruptive technology standard in the sector. Itu2019s still in use today, but as Dr. Craig Wright notes, integrating the standard into Bitcoin could transform the sector.u23f8u201cEDI is very simple to code into Bitcoin,u201d Dr. Wright tellsu00a0 Backstageu00a0reporter Becky Liggero.u23f8u201cGetting people to think about how we might do that is important, and itu2019s not as difficult as people make it out to be. Once you structure all this information, then itu2019s doable. Then, an NFT, rather than having a Bored Ape, can have useful information.u201du23f8At theu00a0Bitcoin Masterclasses #5u00a0in London, Dr. Wright delved into theu00a0integration of EDI and Bitcoin. While EDI gave the supply chain management industry a big push toward digitalization, many of the processes are still paper-based. The digital processes are still slow, costly and suffer from a lack of trust between participants.u23f8u201cWhat weu2019ll be doing is taking the existing system and porting all the existing data and methodology to be stored on Bitcoin. That gives you a rail into utilizing it,u201d he told Backstage.u23f8This integration will especially be beneficial for the smaller players in the system. While the current EDI standards are not up to standard, global behemoths can still tap advanced systems from companies like SAP, Oracle, andu00a0Salesforce. The small businesses who canu2019t afford these expensive systems need a Bitcoin-based EDI system the most, Dr. Wright says.u23f8We live in the digital era where data is the currency. However, Big Tech still ownsu00a0our datau00a0and continues to mint billions of dollars from its users. For years, Dr. Wright has advocated foru00a0Bitcoinu00a0developers to build applications rivaling these legacy systems while giving users ownership of their data.u23f8As he told Backstage, Dr. Wright believes data should be on-chain. Any company can then build their applications and compete for this data by offering the best user experience.u23f8Watch The Bitcoin Masterclasses #5 in London: EDI logistics & tracing goodsu23f8″,”metadata”:{“author”:”Steve Kaaru”},”pluginVersion”:”5.7.1″}; |
When it was adopted in supply chain management in the 1970s, Electronic Data Interchange (EDI) was deemed the most disruptive technology standard in the sector. It’s still in use today, but as Dr. Craig Wright notes, integrating the standard into Bitcoin could transform the sector.
“EDI is very simple to code into Bitcoin,” Dr. Wright tells Backstage reporter Becky Liggero.
“Getting people to think about how we might do that is important, and it’s not as difficult as people make it out to be. Once you structure all this information, then it’s doable. Then, an NFT, rather than having a Bored Ape, can have useful information.”
At the Bitcoin Masterclasses #5 in London, Dr. Wright delved into the integration of EDI and Bitcoin. While EDI gave the supply chain management industry a big push toward digitalization, many of the processes are still paper-based. The digital processes are still slow, costly and suffer from a lack of trust between participants.
“What we’ll be doing is taking the existing system and porting all the existing data and methodology to be stored on Bitcoin. That gives you a rail into utilizing it,” he told Backstage.
This integration will especially be beneficial for the smaller players in the system. While the current EDI standards are not up to standard, global behemoths can still tap advanced systems from companies like SAP, Oracle, and Salesforce. The small businesses who can’t afford these expensive systems need a Bitcoin-based EDI system the most, Dr. Wright says.
We live in the digital era where data is the currency. However, Big Tech still owns our data and continues to mint billions of dollars from its users. For years, Dr. Wright has advocated for Bitcoin developers to build applications rivaling these legacy systems while giving users ownership of their data.
As he told Backstage, Dr. Wright believes data should be on-chain. Any company can then build their applications and compete for this data by offering the best user experience.
Watch The Bitcoin Masterclasses #5 in London: EDI logistics & tracing goods
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