Trust in Trade
Beneath the hype, blockchain is a maturing technology that offers great promise
The modern supply chain is long on data and short on trust. Historically, mistrust between organizations, including fear that information might be passed on to a competitor has stopped organizations from sharing data. In turn, even when information is shared, it’s often not fully trusted.
Blockchains – distributed ledgers that create a permanent and shared record of every transaction associated with an asset – create an unbroken chain of trust. Each record is time-stamped and appended to the event before it. Blockchains have the potential to generate breakthroughs in three areas: visibility, optimization and demand.