The Time Is Now

Abstract:Blockchain technology, much like Artificial intelligence and Machine learning, has the potential to drive further technological innovation. Blockchain is the technology behind cryptocurrencies such as Bitcoin, and it serves to trace and track every process and transaction tied to any product. This technology, due to its chain-like structure and multitude of owners, is very secure and hard to break. Using blockchain to drive supply chains is a great way to ensure a product's quality, from start to finish. However, there are some drawbacks to blockchain that make it difficult to apply to supply chains globally. First, everyone has to buy into blockchain for it to work effectively. Second, the data stored in the chain is only as good as the weakest link, so incomplete data can bring down the overall effectiveness and quality of a chain. Finally, technology can never be 100 percent secure, no matter how secure it seems. Like any technology, widespread adoption can pave the way to new innovations …

Access this article
Other ways to access this article
Please register to access this article

Social Bookmarking

Digg, delicious, NewsVine, Furl, Google, StumbleUpon, BlogMarks, Facebook



Very well put article with easy examples. The wide spread usage of blockchain will also depend on the affordability and skill availability. As we move down the supply chain any additional cost would be a major impact, unless the client drives it and makes it available to its vendors easily. Thanks a lot for sharing this.
--Ravi Achanta, 10-12-2018



--damon, 10-02-2018


Featured advertisers