New IBM White Paper Explores Blockchain as a Must-Use Tool for Toy Industry

November 6, 2020 | Blockchain technology presents toy companies with the opportunity to improve their inventory levels, better protect their IP, and create faster and more accurate transactions, according to a new white paper prepared by IBM in collaboration with The Toy Association. The report, “Is Blockchain the Toy Industry’s Path to Playing Together?,” is now available for free to Toy Association members.

“Blockchain presents a unique framework to bring together suppliers, manufacturers, distributors, transporters, retailers, and customers to deliver authentic products in a more efficient manner,” Paul Vitale, executive vice president of finance and operations at The Toy Association, stated in the report. “The real question is will we see a full industry effort, or will we see smaller groups get together and collaborate?”

The white paper explains blockchain, illustrates some of its most likely applications to the toy industry, and addresses how toymakers can help define how blockchain can be used to improve their asset, information, and financial levels.

Members of the toy industry can also use this report to analyze how different sectors of the industry (retailers, suppliers, regulatory and testing agencies, financial institutions, and others) could collaborate through the technology to improve the customer experience.

The full white paper can be found in the Research & Data section of the Association’s website. Please contact The Toy Association’s Anne McConnell, senior director of market research & data strategy, with any additional questions.