Blockchain

Suppliers

Blockchain-based supplier information management

Blockchain

Creates a source of supplier information and digital identity using the cryptographic security of blockchain.

Instant Access

Suppliers offer buyers immediate access to their data (regulatory, compliance, legal, etc.)

Simplified Process

Simplify and accelerate supplier qualification, onboarding & lifecycle management.

The Power of Blockchain

3 main components that make Blockchain virtually impenetrable and secure

Decentralization

Records are copied and continually checked by algorithms to prevent data from being altered or hacked

Immutability

Any changes to records are saved as a new version and linked to prior versions for audibility

Transparency

Data privacy is ensured through complex cryptography & nothing gets stored as readable text

Conventional systems are open to fraud, error and inefficiency

Each participant has his own, seperate database, or ledger — increasing the possibility of human error or fraud

Often laden with manual processes, resulting in frequent delays and inefficiencies

Shared databases cannot prevent malicious activity. Hacked entities can corrupt or destroy data in the shared database, making it invalid for everyone involved

Reliance on intermediaries for validation creates inefficiencies

Blockchain is designed for trust and secure trading

Single, shared, tamper-evident ledger — once recorded, transactions cannot be altered

Data is guaranteed to be valid and reconciled against the data held by the others participating on the Blockchain

Provides levels of error checking and transaction validity not obtainable in regular shared databases

Immutably records all details of a transaction end-to-end, reducing vulnerabilities

FAQ

What security standards does TYS follow?

Is my data shared with everyone in the network or can I restrict access to it?

How do you handle PII data?

Is encryption in place for data in transit and at rest?

How is my data backed up?

What is your password policy?

What security measures are in place around user sessions?

Where is the cloud server and who manages it?

What firewalls do you have in place to protect your network?

What system hardening measures have been implemented for TYS?

What anti-malware protections are in place?

Do you have a Business Continuity Plan in place?

Do you have documented security incident response plans?

Do you have Security Incident and Event Management (SIEM) tools in place?

In the event of an incident, how quickly can you restore system availability?

What security awareness training do TYS employees receive?

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