Maintain A Digital Ledger Of Transactions
Blockchain is a relatively new technology. While we continue to explore its full potential, we can still use its versatile applications for a range of industries, including supply chains.
Gain Transparency and End-To-End Tracking
Blockchain enables transparency and accurate end-to-end tracking by creating a digital ledger of transactions.
Benefits of blockchain include:
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centralized record of all transactions
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ability to trace assets from production to delivery
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provides visibility to both business and consumer
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gives access to the same information to all parties
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streamlines admin processes and reduces costs
Using blockchain technology ensures everyone has the same up-to-date information. This improves the traceability of products within a supply chain, increasing the information available to customers, and enhancing product knowledge and safety. And, since the ledger is maintained by a network of computers rather than in one centralized location, it's highly secure and nearly impossible to corrupt.
