A lot of companies are interested in blockchain for creating more efficient workflows, but supply chain management is one of the killer use cases for the technology.Here are some highlights of supply chain on the blockchain this past week as part of our regular updates. The developments in this space get more exciting every week!Graph Blockchain Ltd solutions target $15.5 trillion logistics sector with latest contractsGraph Blockchain Limited (“GBC” or “Graph”), a leading-edge technology company providing private blockchain solutions has been focused on the growing need for blockchain data management in the global logistics market.Multi-national global logistics and freight companies such as FedEx, UPS and Purolator join Sweetbridge as openly acknowledging their endorsement of blockchain technology, with all three joining the Blockchain in Trucking Alliance (BiTA), noting that it will bring efficiencies to their industry through consistent, transparent and immutable data.TraceLink bags $93M, plans AI & blockchain tools for drug trackingTraceLink, a maker of software that helps track the supply chain of pharmaceuticals, was recruiting hundreds of thousands of companies and organizations to its digital platform. The North Reading, MA-based firm announced it closed a $93 million funding round led by Georgian Partners, a later-stage investor based in Canada. Georgian was joined by new TraceLink investors Vulcan Capital and Willett Advisors, as well as earlier backers FirstMark Capital, Volition Capital, F-Prime Capital Partners, and Goldman Sachs.Click for source of photoThe $93 million investment includes $60 million that was revealed in a June document filed with the SEC. The nine-year-old company aims to not only let customers track large amounts of data, but its software is also meant to let them exchange data on the platform, almost like a social network. TraceLink’s software capabilities include instantly notifying every organization in the network when there’s a drug recall.Systech avows blockchain solutions for pharma supply chainSystech, a global technology leader in consumer safety, brand protection, and product authentication, along with representatives from leading healthcare industry companies and associations, came together to explore the use of blockchain technology to support Drug Supply Chain Security Act (DSCSA) compliance.The “DSCSA & Blockchain” study team set goals for establishing a blockchain-based electronic connection between global trading partners, sharing required data without exposing proprietary information, designing for expansion beyond DSCSA compliance, and funding the architecture.SAP pilots blockchain-based supply chain trackerSAP is working with more than two dozen produce, pharmaceutical, tech and shipping companies on an automated blockchain-based supply chain tracking system that it believes will bolster visibility and ensure the authenticity of goods such as food and drugs.The software giant is piloting its SAP Cloud Platform Blockchain with 16 farm-to-consumer produce suppliers such as Maple Leaf Foods, Johnsonville, Naturipe Farms, Tate & Lyle and Natura.UPS blockchain patent aims to route packages on multiple carriersUPS has filed a U.S. patent application to use blockchain technology to plan package routes and track them globally, as they are handled by multiple carriers.Click for source of photoThe application describes storing data regarding point of origin, destination and shipment parameters, generating a transportation plan, tracking and completion of the shipment, including payment with the use of the blockchain. The patent also mentions that “virtual currencies” such as Bitcoin and Ethereum may be acceptable forms of payment in this system.Bank of China inks deal with UnionPay for blockchain-powered payment systemState-backed Bank of China (BOC) and financial services corporation the China UnionPay (CUP) signed a deal to jointly explore the development of blockchain applications for mobile payment.Click for source of photoThe deal is in response to the growing demand for and regulatory requirements on blockchain applications in the real economy and is designed to provide more extensive opportunities for cooperation between enterprises, particularly cross-border digital payments. Both also committed to jointly explore big data and distributed ledger technology deployment to improve digital banking products further.$23 Billion: Blockchain pivot to bring big savings for Australia’s largest securities stock exchangeThe Australian Securities Exchange (ASX) has disclosed that millions of dollars in savings could be generated by Australian firms once the exchange migrates from the existing Clearing House Electronic Subregister System (CHESS) to a blockchain technology-based platform.Click for source of photoCurrently, it is estimated that the average fee that large investors are charged for clearing and settlement services is approximately 1.2% of the assets. The superannuation industry, on the other hand, incurs costs of approximately $23 billion. So far ASX has spent 3 years researching and developing the technology which is expected to go live in two years. This will make it the world’s first industrial-scale application of blockchain in critical financial market infrastructure.Electronics giant LG focuses on development of blockchain, AI, IoT with branding strategyLG CNS, a subsidiary of South Korean multinational conglomerate LG Corporation, has announced a plan to strengthen its enterprise offerings in seven key areas including blockchain.Click for source of photoLG CNS is planning to release new “strategic” brands for each of the seven platforms of newly developed technologies — blockchain, artificial intelligence (AI), internet of things (IoT), smart city, smart factory, robot service, and smart energy — in order to promote the “fourth industrial revolution” with its enterprise portfolio.Want to know more about Sweetbridge?Sweetbridge is an open-source project unlocking the value trapped in assets, payment delays, and corporate talent. Our Blockchain-based ‘tools for commerce’ help companies, countries and individuals to find a better way to trade and innovate.To join the movement go to https://sweetbridge.com/crowdsale and click “Register Now”.Join our discussion in Sweetbridge telegram channel to learn more about Sweetbridge and its products.Twitter | LinkedIn | Facebook | Telegram | Reddit | InstagramSupply Chain/Blockchain Friday Wrap — Week ending 24 August 2018 was originally published in Sweetbridge on Medium, where people are continuing the conversation by highlighting and responding to this story.