1 / 2

The Power of Blockchain in the Supply Chain

Developing a portable blockchain network will facilitate the supply chain processes with enhanced transparency, reliability, scalability, privacy, and trust among the parties over the supply chain.

bessiejoans
Download Presentation

The Power of Blockchain in the Supply Chain

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. The Power of Blockchain in the Supply The Power of Blockchain in the Supply Chain Chain Blockchain is an innovative solution for various business verticals, it has its own characteristics that make it suitable for business application over the internet. The applications of blockchain are infinite, and for retailers, blockchain will be advanced. Blockchain provides a digital peer-to-peer network that facilitates direct transactions among users. Its distributed and immutable characteristics eliminate costly repetition and enable trust, eradicating the need for and cost of a mediator. Public blockchains, such as Bitcoin, are anonymous and open source that can be used by anonymous persons over the internet, while private or permissioned blockchains, might be discovered over a supply chain, as it involves a group of associated stakeholders that have a complete interest in making business collectively. Permissioned blockchains facilitate privacy, security, and scalability and It is being well befitted to the enterprise ecosystem over the secured blockchain. Blockchains give intensified transparency using a distributed ledger and public-key encryption methods that preserve delicate data while allowing verifying and authentication of data by all of its authenticated users. Blockchain generates (a shared distributed ledger) one set of books for the complex, global supply chain, enabling retailers to (record all the transactions with timestamp)detail the entire transaction history of a product from source to sale without essential details and encapsulating the private data. Blockchain allows retailers to validate a product’s origin and guarantee authenticity, helping match forged goods and strengthen the value of premium products.

  2. Blockchains deploys smart contracts in the supply chain to perform actions based on a detailed set of triggers, building both controls and efficiencies. For example, when a retailer confirms receipt of a shipment on the blockchain, a smart contract might automatically admit payment to the relevant parties. Smart contracts can be used to make appropriation decisions based on a defined set of traits, streamlining the procurement process. Developing a portable blockchain network will facilitate the supply chain processes with enhanced transparency, reliability, scalability, privacy, and trust among the parties over the supply chain. There are CustomizedEnterprise Blockchain Solutionsare available for various business verticals.

More Related