In plain sight. Supply chains as a Blockchain / DLT use case.
Few verticals are as naturally suited to improvements in the transmission of data. Complexity is at the heart of existing systems. Data records, payment channels and processes, regulatory and compliance requirements. All interwoven, across business, borders and jurisdictions.
Notwithstanding the digitisation of much of the world’s data supply chains, in their most readily identifiable form they remain tied to paperwork trails. Bills of lading, invoices, receipts, ownership documentation.
Can we fix this? Blockchain and DLT promise to solve many of these challenges. Simply put, the supply chain leaves a trail. This technology creates a tamper proof and tamper evident footprint. Shareable data sets that allow those involved in the process to determine and benefit from –
- Ethical and sustainable practice
- Ownership rights
- Liquidity pools
- Trade finance
- Risk protocol management
- Real time inventory tracking
In general terms, it’s the cost of trust.
Information that’s accurate and relevant to those who need to, or want to know. Transparency for businesses transacting with each other. Compliance with regulatory frameworks.