Central Securities Depository Of IRAN

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CSDI MAKES A MOVE TO BOOK COMPANY'S CATERING SERVICES VIA BLOCKCHAIN TECHNOLOGY

Central Securities Depository of Iran (CSDI) books lunch for staff using blockchain technology.

Blockchain is the new buzzword everywhere, often considered as the tech-integrated future of commerce. But the implications of this emerging system are just now coming to light, presenting unique opportunities in every aspect of our daily routines.

At its most basic level, blockchain is a digital, peer-to-peer ledger that stores encrypted data in a way that is virtually fraud-proof.

Central Securities Depository of Iran offers free catered lunch to its employees every day who work in its Tehran headquarters.

Our culinary team provides breakfast and lunch daily. There is also bottomless tea, coffee, biscuits, "Doogh" [yoghurt deink], water, fruit and snacks available all the time.

We get catering from a high-quality, favorite restaurant where their skilled chefs and our nutrition team thoughtfully plan every menu around meals that keep the CSDI team feeling energized, nourished and working at their highest potential.

Now, CSDI has begun to take the principles of the blockchain technology and apply it to the employees' food ordering system. Previously, a list of menu items used to be circulated among the staff and they circled or highlighted one of the three options up for grab every day for the coming month. However, the method often created problems and difficulties on the part of both the catering team and the staff as well.

What makes blockchain special as a ledger technology is that it's distributed, immutable, and it's verified. In another way, it's stored on multiple computers, entries can't be changed once they are added, and all ledger participants agree on the data placed within it.

That's why if, for instance, an employee changes a ledger entry on his/her computer later than due time, the change won't be reflected in other copies – the consensus will be the valid entry.

This means that there would no longer be any disagreement on whether there have been any mistake on the item an employee had ordered and the one he/she is being served.

CSDI believes these applications can affect almost every part of employees' business life. Among other benefits of the application we can name the advantage of going paperless, easier access, faultless and faster performance while in the meantime we get employees better acquainted and more involved with novel technologies in a practical and less complicated manner.

It is worth mentioning that CSDI has successfully conducted the trial stage and the new method is to totally replace the old one.

Release Date: 2019-01-11