Participation in community effort to bridge blockchains to the Tradeshift platform to further digitize global commerce; company plans to open source key platform components
Tradeshift, the world’s largest business commerce platform, announced that it has joinedHyperledger, an open source collaborative effort hosted by the Linux Foundation to advance cross-industry blockchain technologies. “We’re thrilled to represent an industry that is continuously transforming due to technologies such as distributed ledger technology,” said Gert Sylvest, Tradeshift CTO and co-founder, who has joined Hyperledger’s governing board. “As leaders, we look forward to contributing to an effort that matches our own values surrounding community, collaboration, interoperability, and openness.”Tradeshift will uniquely contribute to various Hyperledger Frameworks such as Hyperledger Fabric and Hyperledger Burrow by providing a gateway to blockchains to access its information regarding business relationships, identities, business processes and more across its B2B commerce platform. “Tradeshift is a pioneer when it comes to building enterprise platforms and networks that enable trust and relationships to flourish between businesses across the globe,” said Brian Behlendorf, Executive Director, Hyperledger. “Tradeshift has a longstanding reputation for contributing to open industry technologies like PEPPOL and standards like Universal Business Language (UBL) that bring value to entire communities. That track record is in line with what we’ve set out to achieve and we look forward to their contributions to our community.”Tradeshift’s participation with Hyperledger builds on its research and development in areas such as blockchain, Internet of Things (IoT), and artificial intelligence to help drive greater innovation in supply chain and commerce. Working globally with partners, third parties, and academia, Tradeshift is both participating in and creating open source technology projects that will benefit commerce globally. “Our investment in distributed ledger technology through a collaborative model like Hyperledger is to share expertise that leads to commercially viable solutions for entire industries and to add value to our ecosystem of over 1.5 million businesses,” said Sylvest.
Tradeshift is a market leader in e-invoicing and accounts payable automation and an innovator in supplier financing and B2B marketplaces. Its cloud-based platform helps buyers and suppliers digitize invoice processing, automate accounts payable workflows and scale without limit. Headquartered in San Francisco, Tradeshift’s vision is to connect every company in the world, creating economic opportunity for all. Today, the Tradeshift platform is home to the world’s fastest-growing network of buyers and sellers operating in more than 190 countries.
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