Dubai-based startup Block Gemini is working with Vodafone Procurement Company to develop a blockchain – based solution for managing and optimizing procurement processes.
According to the statement, the blockchain solution will replace traditional manual purchasing processes with a single source of accurate real-time price information and will be able to generate data on price trends and compare markets. Vodafone Chief Operating Officer Tolga Tomruk said:
“Implementing the hyperautomatization capabilities offered by blockchain will allow us to change the way we collaborate and negotiate commercial terms with our suppliers.”
Block Gemini has joined the Vodafone-backed Tomorrow Street Innovation Center as a blockchain-based solution provider. Tomorrow Street is a joint venture between Vodafone and the Technoport incubator, supported by the Luxembourg Government. The Innovation Center enables Vodafone to innovate quickly and efficiently for its customers and partners.
“Block Gemini has joined Tomorrow Street and Vodafone. We look forward to bringing blockchain – based industry and enterprise innovation to Europe in partnership with Tomorrow Street,” said Chris Fernandez, CEO of Block Gemini.
In the summer, Telefonica, Deutsche Telekom and Vodafone tested the blockchain for roaming payments, and in May, Vodafone and Energy Web announced that they would use the blockchain to connect energy sources to power grids.