Implementing blockchain technology in supply chain

March 3, 2021
Evelynjaneheather
Blockchain In Supply Chain

Blockchain In Supply Chain

Giant sectors out there in the supply chain world are experimenting pilot projects with blockchain technology. Some of the exciting and innovative projects are on the verge of implementation. Here’s the sneak-peak news on blockchain in supply chain projects!

  • The international supply chain holds the involvement of a bunch of companies in their import and export processes. Eximchain indulges in the project of providing credit scores for the companies to avoid loss of products and improve the quality of the supply chain.
  • Quality standard certifications for physical products must be digitalized in this era. Provenance is concerned about digital certification for the physical products out there with blockchain tech.
  • The most valuable and precious stone of all time is diamond, and it requires traceability with immutable technology. Here comes Everledger with the solution of digital thumbprint by leveraging the blockchain technology.
  • Food scams are occurring in multiple ways and can affect generations with unknown diseases. Arc-net has crafted its food track application by tieing up with Ireland Craft Beers on breweries, which may be scaled up for other food products shortly.
  • Giving your hard-earned money for charities needs a soulful heart. But, when it reaches fraudsters, it may hinder you from rendering helping hands in the future. Hence, BitGive provides the donors to trace their donated money with blockchain technology, which may promote charities.

Sure, these projects may pop-up soon in real-life. Now, let’s see the areas at which supply chain could be enhanced, according to blockchain experts assurance are!

Even Though It’s Hard, These Are Assured Gains!

Implementing blockchain technology in supply chain is not as easy as you expect. It requires proper planning and, most importantly, funding. As blockchain technology is budding now in all the sectors, people are stepping forward to invest in tech projects. But, when it comes to the supply chain, there are hindrances too.

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