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Blockchain – Where Are We Going?

  • 10 days ago

Blockchain is set to improve the efficiency and security of procurement companies in all industries — while adding value for their customers. 

Are you ready to be blockchain-ready in your supply chain?

Cryptocurrencies are one of the most famous examples of blockchain potential. It is the technology drawing attention from outside finance.

Blockchain is Transforming Supply Chain Management 

The decentralized ledger is the core technology of blockchain. It records and protects transactions shared between multiple parties. 

Cryptocurrencies use blockchain such as Bitcoin, Ethereum, and Dogecoin to allow unlimited anonymous parties to transact without an intermediary.

Supply chain management allows known parties to transact directly, while increasing security, contract compliance, and reducing costs. Supply chain blockchains “tokenize” a variety of transaction-related data. This creates unique and easily verifiable identifiers such as purchase orders, inventory units, and bills of lading.

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