What is the role in the supply chain technology?

One of the biggest selling points of block chain technology is its invariance, which promotes the value from financial services to health care. Any information stored on a classified account cannot be changed, so the technology is ideal for saving any product of any product that is distributed through the supply chain. Make sure the best way to supply chain security is an unlatable book – product and its origin of records, and the block chain can provide this classification.

When inserting a supply chain, the block chain is provided is the auditable tracking of each component, component, and system being used. Counterfeit, fraud and suspicious items (CFSI) issues almost completely through the block chain. This non-variable accounting system creates a trusted network-supply ecosystem. Compared to paper records that cannot provide the desired traceability and safety levels, the block chain is hard-wired, with other systems that cannot be achieved, transparency, security, and risk relief capabilities. The block chain is not limited to the industry that requires security supplies. Undoubted traceability has many advantages in rapid consumer goods, fashion and electronic product.

When using an appropriate block chain in a supply chain environment, the evidence of participating action between participants can be stored in a classification account, providing an unfailed fact source, that is, the action that acts in claiming. Work together with other technologies such as the Internet of Things, users can use the classified account to prove any evidence that may affect the tamper or environmental factors of transportation, and record these evidence in the classified account. It is the combination of these factors – safety assurance, plus participants’ transparency, allowing Microsoft and Coca-Cola equivalent to adopt this technology to provide significant cost operations in their supply chains.

Value is obtained in particular from the block chain by supply chain allocation. Its invariance helps to verify the journey, discovering risks such as food fraud, illegal fishing and worker exploitation, and promotes sustainability. In fact, the block chain has proven to be beneficial to society and enterprises.

In the past few years, the block chain has become an important tool. During the epidemic, the block chain technology became more important because auditors and human rights observers are facing difficulties in entering the farm, factory and fishing boats. As consumers are increasingly interested in their products, the block chain provides additional protection to expand the block chain traceability solution and explore its extensive potential.

The block chain is not a panacea, which will not fundamentally change the supply of supplies. However, it is a responsible enterprise, government and civil society another powerful weapon that illuminates the hidden part of the global supply chain and eliminates illegal and unsustainable practices.