Block4SME Stakeholders Workshop held in Cyprus with success

Effectively applying the blockchain technology in the Supply Chain Management: towards designing a comprehensive training package

A diverse group of stakeholders, including representatives from two Vocational Education and Training (VET) providers, University academicians, HE students, SMEs, and NGOs, gathered at the Altius Hotel on the 15^th of November for the Block4SME Stakeholder Workshop. The event focused on exploring the current state and the transformative potential of blockchain technology in Cyprus, with a specific emphasis on the tourism and agrifood sectors.

Participants engaged in a lively discussion about the limited availability of blockchain platforms in Cyprus and surrounding regions, identifying a significant lack of awareness among local businesses and institutions. The consensus was that government involvement is crucial to drive adoption, and comparisons were drawn with established platforms like IBM’s blockchain solutions. The absence of umbrella organisations, similar to Amadeus or TUI, was noted as a barrier to widespread blockchain adoption.

The workshop delved into practical scenarios where blockchain could address pressing issues. Participants explored blockchain’s potential to verify product authenticity and rationalise pricing by revealing true product values. It was concluded that blockchain technology could be pivotal in formulating strategic initiatives within the tourism and agrifood industries.

Discussion highlighted the challenges SMEs face, primarily due to resource constraints that hinder their ability to develop blockchain platforms. Concerns were also raised about the general lack of trust in new technologies among SMEs and their reluctance to share information.

Participants discussed how blockchain technology could enhance trust and transparency, particularly through the effective use of e-contracts, which could significantly improve company performance.

The workshop underscored the urgent need to boost awareness and provide practical tools to facilitate blockchain’s understanding and application, particularly among SMEs. While interest in

blockchain technology is growing, practical implementation is hindered by a lack of knowledge and infrastructural support. The workshop concluded with a collective call for enhanced strategic efforts to educate and equip local industries, fostering an ecosystem conducive to innovation and efficiency.

The organisers extend their gratitude to all participants for contributing to the rich discussions and look forward to continued collaboration in furthering blockchain technology adoption in Cyprus SMEs.

For more information, please contact – Yianna Orphanidou – Project Coordinator- [email protected]