After SAP announced and launched its effort to integrate the technology of blockchain into more spheres of life such as the Internet of Things (IoT), supply chain, manufacturing and many more, the company said that 27 more partners have joined the initiative. The announcement was made at SAP TechEd Barcelona, taking place Nov. 14-16.
According to PR News Wire, the total market capitalization of these partnering companies is estimated at around $819 billion.
The variety of industries that the new partners represent is highly notable, as they come from industrial machinery, telecommunications, high-tech, agriculture, aerospace and defense and more. The sheer depth and breadth of companies interested in developing the blockchain technology only speaks for the mass application of the product across industries and sectors.
Hartmut Mueller, Senior Vice President of Business Solutions at Deutsche Telekom IT, commented on the news:
“At Deutsche Telekom, we see a big potential for blockchain technology in the telecommunication business. Our cooperation with SAP will speed up digitalization to the benefit of our customers.”
SAP also announced its intention to join Spain’s Alastria Consortium and the Blockchain in Trucking Alliance (BiTA) to further boost the integration of blockchain to users multiple sectors and locations.
Participation in Alastria, which brings together banks, telecom providers, energy companies, universities, smart-city organizations and developers, will allow SAP to strengthen its blockchain ecosystem and network in Europe. As a member of BiTA, an organization promoting the development of blockchain standards and education, SAP will expand its reach in freight and transportation management, as reported by PR News Wire report.
Some of the initiatives undertaken by SAP as projects include the following:
- SAP Asset Intelligence Network
- SAP Distributed Manufacturing
- SAP Transportation Management
- SAP Global Track and Trace
- SAP Advanced Track and Trace for Pharmaceuticals