Blockchain applications in supply chain
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Proof-of-provenance
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Detecting contamination
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Secure transactions
Use case 1. Proof-of-provenance
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Currently
Data fragmentation leads to inadequate provenance tracking in supply chains, where shoppers are unaware of the quality of products they purchase.
With blockchain
Blockchain keeps a permanent record of all parties involved in a supply chain, with the origins data transparently visible to consumers.
Use case 2. Detecting contamination
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Currently
Insufficiently regulated nature of today’s supply chains makes room for contaminated foods paving their way to shop shelves — if not validated promptly.
With blockchain
Blockchain establishes a network where all supply chain parties verify food quality against mutually agreed quality standards from the moment of origination.
Use case 3. Secure transactions
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Currently
Deals between businesses and suppliers are usually not backed by compliance guarantees; parties might not pay in due time, or fail to fulfill payment commitments.
With blockchain
With blockchain-enabled smart contracts, supply chain partners can conduct deals without even trusting each other; code-dependent smart contracts will trigger actions strictly upon meeting agreed terms.