Thailand’s Krungsri Bank (Bank of Ayudhya PCL) and Siam City Cement has entered into a partnership to develop Krungsri Supply Chain on a blockchain platform, as a way to help businesses better manage their supply chains.

Blockchain Solutions for Supply Chain Management

Krungsri has announced that, for the first time in Thailand, blockchain technology is being adopted in the supply chain sector. According to its official statement, the initiative will increase flow efficiency, while improving credibility and transparency of business-to-business transaction data. Moreover, the bank expects the technology to help SMEs gain greater access to capital.

The blockchain-powered project is currently being conducted under the Bank of Thailand’s regulatory sandbox guidelines.

Sayam Prasitsirigul, Krungsri Head of SME Banking Group, said he strongly believes the solution will significantly transform the supply chain ecosystem.

“With the Krungsri Supply Chain on