ERP and Blockchain
GM-X ERP is a web-based application that includes enterprise and supply chain management, Salesforce automation, and project management. It was designed to foster real-time collaboration across multiple platforms (e.g., desktops, tablets, and phones) between employees, customers, and suppliers. The main difficulties with business-to-business collaboration are data integrity and security.
- ERP systems are often centered on individual enterprises or business units, each with its own database and record schema. Distrust and data discrepancies prevent organizations and even business units from successfully collaborating. Blockchain has the ability to process any type of data that is utilized at a node because its use of consensus mechanisms. It is difficult to push through any invalid or unauthorized change from a disparate party. This allow users to collaborate without worrying about data integrity.
- Rampant data breaches have forced data security to be one of the top concerns of many organizations. Data security is especially challenging for organizations that depend on business-to-business collaboration. Most conventional collaboration tools such as web portals are based on centralized databases and are prone to data attacks. Blockchain is nearly impossible to hack due to its distributed structure. A blockchain’s distributed structure can vary in the number of ledgers and the number of nodes required for consensus. The blockchain structure and algorithm that the ERP product is based on will determine the data architecture and how secure the data is.