How Blockchain Can Re-Invent the Global Supply Chain

Since being introduced in 2008, the technology behind Cryptocurrency, the most famous Bitcoin in the world, has attracted attention, especially among startups and the financial services industry. However, lately there began to be a lot of attention because businesses began to realize that besides doing payment tracking, it can be useful for many things. You can also get more information about blockvhain at https://www.supercolony.net/.

Image Source Google

Simply put, Blockchain is a divided ledger that sorts transactions to the block. Each block is nailed to the previous block with complex mathematics to the first transaction. Note is permanent, transparent, and can be searched so that community members can see the entire history of the transaction.

Each update is a new "block" added to the end of the "chain" – a structure that makes it more difficult for anyone to change notes later. This book allows information to be recorded and shared among large groups of independent companies, and all members must work together to look for updates – which are in everyone's interest.

Until now, a lot of attention and money has been paid on this technology financial application. However, the same promising test cases are the relationship of global supply chains, complexity and diversity of interests that represent the challenges that this technology must be faced.

The simple application of the Blockchain paradigm to supply chain is to register the transfer of goods in the registers, because the transaction will identify the parties involved, as well as prices, dates, locations, quality and product conditions, and more. Information, which will be relevant for supply chain management.