New SME Guide on Blockchain (2022)
In its efforts to raise awareness and help SMEs adopt and use blockchain standards, Small Business Standards (SBS) has developed this guide on blockchain and Distributed Ledger Technology (DLT) titled "New SME Guide on blockchain: Realising SMEs strengths to lead strategic digital autonomy".
The EU blockchain market is expected to be valued around €59 billion by 2028. SMEs can use blockchain to grow their businesses and lead the way in digitalisation and sustainability. In addition, blockchain is helping non-ICT sectors to become more efficient and sustainable through authenticated transactions and increased transparency methods
How can SMEs verify that the origins of non-EU imported raw materials are sustainable and environmentally friendly without relying on complex and costly verification procedures?
How can they perform international transactions without been implicated in fraud or money laundering schemes?
Is there a better and more efficient process to certify ISO management and safety systems?
The guide, produced by SME Experts, will answer these questions and contribute to raise SMEs’ awareness on how to appropriately use technology, adapt to EU legislation, and maintain consistency to standardisation activities. Moreover, the document provides an update on EU policy developments and the geopolitical challenges that SMEs may face in using the proposed technology and standards.
The manual wishes to illustrate four case scenarios that demonstrate how blockchain:
Strengthens overall business sustainability
Helps SMEs in certify their quality management system
Ensures authentication and trust in identification
Strengthens policy response to raising and urging geopolitical concerns
The SME Guide on Blockchain and Distributed Ledger Technology provides SMEs with basic yet key principles of blockchain and DLT technology and how their standardisation can help in strengthening transparency and sustainability of operations, in scaling up solutions and in sensibly reducing transaction costs for businesses.
