JOHANNESBURG – One technology with enormous promise is blockchain. Surprised? Don’t be – there’s much more to blockchain than the world of cryptocurrency and finance.
Blockchain has the ability to transform the supply chain discipline and the businesses that rely on it for the better. It has many other applications beyond Bitcoin.
Imagine a simple head of lettuce on a supermarket shelf. What farm was it grown on? What methods were used in the growing? How far did it travel to the store? When a business deploys blockchain, consumers can track the lettuce from the time it was sown to when it reaches the store shelves.
Whether it’s a head of lettuce grown on a farm or a server farm itself, everyone wants to know where their purchases came from. Blockchain will add visibility and trust to the supply chain – benefits that will help everyone.
How blockchain technology benefits supply chains