Blockchain for Supply Chain
Blockchain technology is revolutionizing industries. Let us get to the bottom of this why blockchain is necessary for the supply chain market. In this case study, we’re going to find out just that.
Blockchain technology is revolutionizing industries. The technology is capable of allowing trustworthy data to be exchanged between two parties in any supply chain system, without the intervention of any intermediaries. This allows for peer-to-peer sharing of data with authenticity like never before.
A quote from Bank of England says:
“It [blockchain] is a technology that allows people who don’t know each other to trust a shared record of events.”
So, let us get to the bottom of this to understand why blockchain is necessary for the supply chain market.
In this case study, we’re going to focus on these things:
- Quick (very quick) understanding of blockchain for supply chain
- Importance of peer-to-peer communication in supply chain
- Let’s talk about Smart Contracts for supply chain
- How blockchain can improve supply chain
- Challenges and the actual implementation