Riding A Blockchain Wave To Supply Chain Paradise

Blockchain technology as a potential solution has been applied to all of the large ecosystems that have issues with real-time data access, partners privacy, traceability and auditability. The supply chain ecosystem is no exception to that, as typical product recalls cost $8 million per year and this number can be reduced with the improved track-and-trace features of blockchain. According to Gartner, by 2023, 30 percent of manufacturing companies with more than $5B in revenue will have implemented projects leveraging blockchain. The key drivers for supply chain blockchain adoption are increased cost savings, enhanced traceability and greater transparency. This means a lot even for giants like Walmart, Carrefour, Nestle and Dole, all of which are part of IBM’s Food Trust provenance project.

https://www.forbes.com/sites/biserdimitrov/2019/12/05/how-walmart-and-others-are-riding-a-blockchain-wave-to-supply-chain-paradise/#36c2d8897791