![]() ![]() It provides any industry that needs to track a processor supplies-ultimately that’s most industries-an immediate and indisputable tracking system.”Įfficient traceability from farm to store is being pursued by big corporations conducting blockchain PoC’s (proof of concepts) with the idea of improving supply chains. Blockchain allows for immediate status updates and increases the security and visibility of the supply chain. That’s why some experts believe blockchain can become a " supply chain operating system." It’s already being used by Walmart and its Food Safety Collaboration Centre in Beijing to track farm origination details, batch numbers, factory and processing data, expiration dates, storage temperature and shipping details for pork. Blockchain technology is revolutionary in terms of record keeping and can track and document every change in a record or transaction.Īnd specifically, as it relates to supply chain management, “whenever value changes hands or the status of asset changes, blockchain is ideally suited for managing the process. Blockchain helps secure and streamline transactions efficiently without requiring intermediaries to manage the process. Every block is linked to the one before and the one after it, and whenever a change is made, the entire chain gets updated. Since every record is encrypted and time-stamped and users can only access and edit the block they “own” through a private key, it’s very secure. Could blockchain be a safe bet AND a breakthrough for how we track and trace our inventory?Īccording to Bernard Marr, Contributor at Forbes what makes blockchain so powerful is that “blockchains, whether public or private, are a real-time ledger of records stored in a distributed, peer-to-peer fashion independent from any central authority. But as I dig a little further into its core technology – blockchain - there is something intriguing here as it relates to Supply Chain. I will be honest, I will probably never own bitcoin, mostly because its fundamentals go against everything that I learned and have come to know about solid investments. But if you are like me, you are watching from the sidelines, wondering if this is another one of the “investments that got away”. The risk/reward is exciting and capable of grabbing major headlines. Bitcoin and other crypto-currencies are stealing headlines with massive overnight gains in value. ![]() Architecture, Engineering and Construction (AEC)īlockchain is getting its fair share of buzz lately. ![]() International Microsoft Dynamics Partners.National Microsoft Dynamics ERP Partners.Regional Microsoft Dynamics ERP Partners. ![]()
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