Supply chain management, a tricky topic from university days. But did you know that blockchain technology can actually be used in SCM?
and other financial blockchain applications, which may be public. However, the possibility of a more open set of partnerships may still exist.
Additionally, the nature, quantity, quality, location and ownership product dimensions are transparently specified by blockchain technology. As a result, customers can view the continuous chain of custody and transactions from the raw materials to the final sale, eliminating the requirement for a reliable central organization to administer and maintain digital supply chains.
As a result, the blockchain can build a supply chain that is smarter and more secure since it allows for the tracking of products through a robust audit trail with almost concurrent visibility. On the contrary, if any health concern or non-compliance with the safety standards is discovered, necessary action can be taken against the manufacturer based on the traceability details stored on the distributed ledger.Tradability is one of the unique advantages of blockchain technology. Blockchain platforms ensure tradability via the tokenization of assets.
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