🔔 BlockChain | ⚡⚡⚡ Global Supply Chain is being disrupted ⚡⚡⚡

Our current supply chain is broken in several ways. Over a hundred years ago, supply chains were relatively simple because commerce was local, but they have grown incredibly complex. Throughout the history of supply chains there have been innovations such as the shift to haul freight via trucks rather than rail or the emergence of personal computers in the 1980s that led to dramatic shifts in supply chain management. Since manufacturing has been globalized, and a large portion of it is done in China, our supply chains are heavy with their own complexity.

It’s incredibly difficult for customers or buyers to truly know the value of products because there is a significant lack of transparency in our current system. In a similar way, it’s extremely difficult to investigate supply chains when there is suspicion of illegal or unethical practices. They can also be highly inefficient as vendors and suppliers try to connect the dots on who needs what, when and how.

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Indeed supply chain is one of the area which is being innovative impact by blockchain technology.. Few good projects in this area are done by

👉 Everledger

Everledger was created to minimize fraud, being a “digital global ledger that tracks and protects items of value.” The team has built a platform that brought greater transparency to the open market places and global supply chain—by ensuring that the authenticity of the asset is secured and stored among all industry participants.

👉 VeChainThor

Vechain represents the potential of blockchains to disrupt established industries by providing immutability and transparency in order to increase efficiency to provide innovative technological solutions to traditional problems. Vechain focuses on changing the supply chain management industry by offering the services of its proprietary blockchain and distributed network to give consumers and companies more clarity on the logistical background, status, and authenticity of products using advanced IoT integration. Vechain has recently expanded its focus to include creating its own decentralized enterprise application environment similar to platforms like NEO and aims to offer an extensive suite of services.

👉 BHP Billiton

the world’s largest mining firm, announced it will use blockchain to better track and record data throughout the mining process with its vendors. Not only will it increase efficiency internally, but it allows the company to have more effective communication with its partners.

👉 Walmart - IBM

Walmart Inc, a US retail corporation and world's largest discount retailer is ready to use blockchain. A patent for using blockchain technology for a smarter package delivery tracking system.

👉 Maersk - IBM

Maersk joins hands with IBM to create a better global trade and digitized supply chain. The new company will use blockchain to power supply chain and employ other cloud-based services like IoT and analytics delivered by IBM as well.

👉 FedEx - BiTA

FedEx and BiTA(Blockchain in Transportation Alliance)teamed up in February 2018 to launch a blockchain powered pilot program to resolve customer disputes.

👉 De Beers

Diamond-giant De Beers uses blockchain technology to track stones from the point they are minded right up to the point when they are sold to consumers. This ensures the company avoids ‘conflict’ or ‘blood diamonds’ and assures the consumers that they are buying the genuine article.

Success of these projects will be a break through a real innovation in Global Supply Chain sector.

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