Blockchain-Technology

Blockchain technology has great potential in situations where visibility is required in multiple participants, entities, and levels. Supply Chain is one of the examples of such a scenario. Blockchain is a powerful distributed ledger technology that can revolutionize the way of doing businesses ranging from compliance & regulatory and supply chain. The inclusion of blockchain technology in supply chain proves highly beneficial for the businesses in different ways. ·          Make The Processes Transparent  This is one of the key features of blockchain where the smart contract is self-execute on the fulfillment of certain conditions. Smart contracts can be implemented with different software applications and integrate into the blockchain to add security, transparency, and accountability in the process. ·          Permissioned Blockchain With A Unique Value Proposition In comparison ...

Blockchain technology mainly exists behind the digital asset and payment system. But, the question is how this technology can be used to benefit the logistics and supply chain management? The answer is hidden in its potential to boost the administrative processes at low cost with complete safe and secure transactions.  The blockchain provides a secure platform where encrypted business transactions take place between buyer and seller without any need of third parties like banks and clearing agents to intervene. It eliminates the need for middle man or intermediaries which could result as a game-changer for supply chains. Big companies and organizations contain lots of elements in their supply chains. Therefore it becomes difficult for them to track every record. The lack of transparency causes excess cost and creates customer relations issues which directly impact on the goodwill of the brand.  Blockchain is a decentralized database to store encrypted records of ...