How Blockchain is Revolutionizing the Supply Chain Industry
Benefits of using Blockchain in the Supply Chain Industry
- Transparency: All participants in the supply chain can view the records, which improves visibility and transparency.
- Efficiency: Blockchain technology eliminates the need for intermediaries, which can reduce transaction costs and improve overall efficiency.
- Security: Transactions entered on the blockchain are encrypted, which provides an extra layer of security.
- Traceability: Products can be traced from origin to destination, which helps to identify and mitigate any potential bottlenecks.