• Crypto Lists
  • Bitcoin
  • Blockchain
  • ICO
  • Cryptocurrency
  • Altcoin
  • Advertise With Us
Newsletter
ItsBlockchain
  • Blockchain
  • Bitcoin
    featured

    A starter guide to Bitcoin Options trading

    Featured Image

    With Bitcoin Mining Capitulation Coming to an End, Will Halving Pump Begin?

    featured image

    Technical Indicators suggests Bitcoin can crash to 7000$ in next few days

    featured image

    Why is Bitcoin a safe haven in a financial crisis

    featured image

    How to Make Money in Crypto When It Falls

    featured image

    Despite Resurrection of Old Bitcoiners, HODL Waves Indicate Bullish Accumulation

    featured image

    Top 5 Online Merchants That Accept Cryptocurrency

    featured image

    An account into Bitcoin Lightning Network Progress and other Scalability Solutions

    featured image

    Why Bitcoin [BTC] Could Fall to $5,000. Now that Halving is Done

    Trending Tags

    • Altcoin
    • Crypto Lists
    • Trade Signal
    • News
      Bitcoin Market’s Sentiments turned bullish after USA President’s recent press conference

      Bitcoin Market’s Sentiments turned bullish after USA President’s recent press conference

      featured image

      Breaking : Crypto Trading is now legal in South Korea

      RBI to allow crypto trading

      Supreme court of India decided to lift off RBI Banking BAN against Bitcoin

      featured image

      Steemit Joining TRON Ecosystem

      Reliance Jiocoin

      Reliance Jio is preparing for Jio Coin launch in 2020

      A $134 Million real estate has sold on ethereum blockchain

      A $134 Million real estate has sold on ethereum blockchain

      Hacking attacks on cryptocurrency exchanges

      Hacking Attacks on Cryptocurrency Exchanges are rising, Why?

      Bithumb Launches in India

      Bithumb Global Launches in India

      US-China trade war effect on Bitcoin Price

      US-China trade war effect on Bitcoin Price

    • Crypto Market
    • Guide
    No Result
    View All Result
    • Blockchain
    • Bitcoin
      featured

      A starter guide to Bitcoin Options trading

      Featured Image

      With Bitcoin Mining Capitulation Coming to an End, Will Halving Pump Begin?

      featured image

      Technical Indicators suggests Bitcoin can crash to 7000$ in next few days

      featured image

      Why is Bitcoin a safe haven in a financial crisis

      featured image

      How to Make Money in Crypto When It Falls

      featured image

      Despite Resurrection of Old Bitcoiners, HODL Waves Indicate Bullish Accumulation

      featured image

      Top 5 Online Merchants That Accept Cryptocurrency

      featured image

      An account into Bitcoin Lightning Network Progress and other Scalability Solutions

      featured image

      Why Bitcoin [BTC] Could Fall to $5,000. Now that Halving is Done

      Trending Tags

      • Altcoin
      • Crypto Lists
      • Trade Signal
      • News
        Bitcoin Market’s Sentiments turned bullish after USA President’s recent press conference

        Bitcoin Market’s Sentiments turned bullish after USA President’s recent press conference

        featured image

        Breaking : Crypto Trading is now legal in South Korea

        RBI to allow crypto trading

        Supreme court of India decided to lift off RBI Banking BAN against Bitcoin

        featured image

        Steemit Joining TRON Ecosystem

        Reliance Jiocoin

        Reliance Jio is preparing for Jio Coin launch in 2020

        A $134 Million real estate has sold on ethereum blockchain

        A $134 Million real estate has sold on ethereum blockchain

        Hacking attacks on cryptocurrency exchanges

        Hacking Attacks on Cryptocurrency Exchanges are rising, Why?

        Bithumb Launches in India

        Bithumb Global Launches in India

        US-China trade war effect on Bitcoin Price

        US-China trade war effect on Bitcoin Price

      • Crypto Market
      • Guide
      No Result
      View All Result
      ItsBlockchain
      No Result
      View All Result
      Home Use-Cases

      Blockchain in supply chain

      Hitesh Malviya by Hitesh Malviya
      March 1, 2020
      in Use-Cases
      0 0
      0
      itsblockchain
      0
      SHARES
      69
      VIEWS
      Share on FacebookShare on Twitter

      What is blockchain?

      Blockchain is a widespread digital database that holds transactions in a tamper-resistant way. Every participant of the blockchain is granted access, inspect, or add to the data to all the nooks and corners of the ledger. This implies 100% transparency of records.

      Consequently, blockchain technology is a platform that simplifies and secures business transactions over the internet. Due to its trustworthy infrastructure, it has innumerable usecases. Injecting blockchain into supply chain will also be a revolutionary step in the near future.

      itsblockchain

      Present problems with the supply chain

      Supply chain, actually, links all the steps involved in production and distribution of all types of goods. Vast, isn’t it? Managing everything, from raw material procurement to distribution and marketing of finished goods, is a great deal in itself. Hence, supply chain currently counters the following problems:

      1. Due to immeasurable geographical expanse of the supply chains, tracing and managing every stage is tough.
      2. The cost of commodities paid by consumers does not reflect the cost of production in some cases because of lack of transparency in supply chains.
      3. The inevitable “disturbances” that affect supply chain, such as a natural calamity, are neither tracked nor taken into account.
      4. No investigation is done for illegitimate activities involved at several stages in supply chain. These may include-counterfeiting, forced labor and poor conditions in factories, or revenues being used to fund war crimes and criminal groups.

      The Blockchain Magic

      A sneak-peek of the problems clarifies that blockchain will bless supply chain with solutions to all these. The blockchain will single-handedly register the transfer of goods on the ledger as transactions that would identify the parties involved, as well as the price, date, location, quality and state of the product and any other information that would be relevant to managing the supply chain.

      • The openness of the ledger will allow consumers to trace the products since the very origin of the raw material used.
      • The decentralized infrastructure will prevent exploitation or manipulation of data by one of the members of the production team.
      • The implementations of blockchain will open doors for opportunities abound to create new, specialized uses for the technology.
      • The technology can be used to maximize profit margins for the small scale producers because the middle-men will no longer play a role.
      • The security provisions in blockchain will disseminate the need of audits required by internal systems and processes.
      • The technology will definitely leverage the reach of the supply chain because thousands of touchpoints can be created in the ledger.

      Developments Till date

      Certain efforts have already been made in this context across the globe. Some of these are listed below:

      1. Everledger (Africa) is trying to inculcate blockchain into diamond supply chain and eliminate market fraught with forced labor and the funding of violence.
      2. Provenance (London) has customized an Ethereum- and Bitcoin-based ledger that adds to transparency of a company’s process of production.
      3. BlockVerify uses blockchain to counterfeit drugs and verify medicines. These not just account for huge economic losses but also take toll of several lives every year.
      4. India-based Mahindra Group has joined hands with IBM to develop blockchain-based supply chain applications.
      5. ConsenSys’s Rebecca Migirov has put forward the concept of “supply circle” and “prosumers (consumers that are also producers based on their vantage point)”. Supply circle is basically a blockchain-based ecosystem that helps in increasing cooperation and collaboration in communities and encourages people to become prosumers.

      Thus, blockchain technology has a potential to disrupt every field it enters. Addition of blockchain to supply chain will help in increasing reliability and transparency. And this, in turn, will lead economy to new heights!

      IBC-Transparent-Logo-(1)

      Subscribe To Our Newsletter

      Join our mailing list to receive Cryptocurrency investing and trading recommendations to your mailbox.

      You have Successfully Subscribed!

      Tags: blockchainsupply chain
      ShareTweetPin

      Subscribe to get notified on latest posts.

      Unsubscribe

      Related Posts

      casino cryptocurrencies

      How Casinos are Driving The Adoption of Cryptocurrencies

      by Hitesh Malviya
      June 3, 2019
      0

      One of the newest and most innovative technology inventions of recent times has been the blockchain. This has allowed prominent...

      blockchain for online shopping

      Blockchain Technology: Improving Online Shopping Experience

      by Hitesh Malviya
      February 11, 2019
      0

      Blockchain technology is at its all time high right now. Cryptocurrency's market has grown within a few months to a...

      Blockchain and internet combine for future

      Blockchain Technology and Internet Of Things to Join Hands for the Better Future!

      by Hitesh Malviya
      February 11, 2019
      0

      Blockchain Technology and Internet of Things are two words which would catch your attention no matter which part of the...

      Biometric Blockchain

      When biometrics meets blockchain

      by Hitesh Malviya
      February 13, 2019
      2

      Digital Identity is such a thorny problem, fraught with technical, legal, societal and political issues, because there are two different...

      Gladius

      Gladius is taking on Cloudflare and Akamai with the Blockchain

      by Hitesh Malviya
      October 16, 2017
      0

      Gladius is a blockchain project that wants to use spare bandwidth from users across the world to protect websites from...

      Load More

      About Us

      We share important articles on blockchain technology here. Our mission is to spread the awareness about blockchain technology to masses through content.

      • Trending
      • Comments
      • Latest
      featured image

      List of leading partners of Ripple, and How they use XRP?

      May 2, 2020
      featured image

      List of ChainLink Partnerships which skyrocketed the growth of LINK cryptocurrency

      May 12, 2020
      How to Buy Cryptocurrency in China

      How to Buy Cryptocurrency in China

      February 17, 2020
      featured

      A starter guide to Bitcoin Options trading

      July 6, 2020
      featured image

      Top 10 Low market cap altcoins to invest in 2020

      June 2, 2020
      Find an Altcoin Bottom

      How to Find an Altcoin Bottom and Uptrend

      April 30, 2020
      binance exchange safe

      How Safe is Binance Exchange

      August 21, 2020
      playcent

      Introducing Playcent- Decentralised Wix for interactive apps and games

      December 14, 2020
      RioDeFi Builds a Bridge to India before its long awaited IDO on Uniswap

      RioDeFi Builds a Bridge to India before its long awaited IDO on Uniswap

      September 27, 2020
      Bitcoin [BTC] Price Analysis – Monthly Returns

      Bitcoin [BTC] Price Analysis – Monthly Returns

      September 1, 2020
      Featured Image

      PrimeXBT – A Smart Platform to Trade Crypto, Forex, and CFD

      August 28, 2020
      featured image

      Bitcoin [BTC] Price Prediction: Parabolic Fractals from 2019

      August 2, 2020
      featured image

      Top 10 Staking Coins Everyone Should Know About

      July 26, 2020
      featured

      4 Interesting Ways Blockchain Technology Impacts Higher Education

      July 21, 2020
      • featured image

        List of leading partners of Ripple, and How they use XRP?

        137 shares
        Share 137 Tweet 0
      • List of ChainLink Partnerships which skyrocketed the growth of LINK cryptocurrency

        55 shares
        Share 55 Tweet 0
      • Top 5 DeFi Crypto Projects

        52 shares
        Share 52 Tweet 0
      • Top 10 Low market cap altcoins to invest in 2020

        20 shares
        Share 20 Tweet 0
      • Bitcoin lost 4.5 years old support, drop below 3000$ possible

        124 shares
        Share 124 Tweet 0
      ItsBlockchain

      We are India’s first and oldest Blockchain & Cryptocurrency publication platform started in 2016. We are a one-stop destination for technical analysis, cryptocurrency recommendations, and Blockchain technology resources.

      Buying Guides

      • Buy Bitcoins in India
      • Buy Bitcoins in China
      • Buy bitcoins in Russia
      • Buy Bitcoins in Japan
      • Buy Bitcoins in Turkey

      Important Links

      • Home
      • About US
      • Privacy Policy
      • Promote Your ICO
      • Submit post

      Follow Us

      Contact us

      support@itsblockchain.com

      © 2020 itsblockchain.com - Designed and maintained by Fanatic Coders

      No Result
      View All Result
      • About US
      • Home
      • Newsletter
      • Privacy Policy
      • Promote Your ICO
      • Submit post

      © 2020 itsblockchain.com - Designed and maintained by Fanatic Coders

      Login to your account below

      Forgotten Password?

      Fill the forms bellow to register

      All fields are required. Log In

      Retrieve your password

      Please enter your username or email address to reset your password.

      Log In
      This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.