Transparent supply chain with blockchain

faisalamin (80)memberMod[BOC]in Steem Alliance • last year

In the modern era, supply chains are becoming more complex. It is a need for businesses and consumers to have transparency and traceability. That's where blockchain technology comes in, changing our understanding of transparency and transforming supply chains.

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Have you heard of blockchain? It's a really cool technology that creates a decentralized and unchangeable ledger. Basically, it records transactions across a network of computers. This means that once data has been recorded, nobody can change it or mess with it. This is super important for creating trust and transparency in the supply chain. Pretty neat, huh? Want to dig into more? visit here

One of the biggest problems with traditional supply chains is the lack of transparency throughout the entire process. But thanks to blockchain technology 😊, every person involved in the supply chain can now access real time and accurate information. This is because blockchain records every single step, starting from the initial sourcing to end step. This creates a transparent and easy to follow trail from start to finish.

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The transparency trend is actually pretty great 👍. It helps keep everyone responsible and encourages good behavior. Companies can check that their suppliers are meeting sustainability and fair labor standards, which is super important if they want to stay true to their values. Plus, consumers can make better choices when they have access to this info and can choose products that align with their own views. This means overall dealing is transparent on both ends.

The use of blockchain technology is really helpful in spotting and stopping any deceitful activities. For a while now, fake products have been a major problem in supply chains, but now we can easily recognize them with greater precision, which is great news for both businesses and consumers. This means that we can avoid any financial loss and health hazards that come with buying items that are fake.

That's all for today, We will learn something new in our next post. Best wishes to all of you. See you soon.