Supply Chain Management

Blockchain technology is uniquely positioned to help create trust, transparency, and accountability between many parties in supply chain scenarios.

A Blockchain-based solution that helps in determining and proving provenance of a product and securely track & trace exactly where product is in a Global Supply Chain.

Blockchain offers tremendous potential in supply chain scenarios. When used in combination with sensor technologies such as IoT and RFID, blockchain promises network participants unprecedented visibility. Blockchain also enables parties to set up pre-arranged “smart contracts” that can be used to automatically trigger compensation or fines based on compliance with agreed-upon rules for the farming, manufacturing, and transportation of goods.

Benefits of identity with blockchain

  • Provenance attestations: Tracing product inputs and attesting production techniques on the blockchain creates an immutable record of asset provenance.
  • Environmental monitoring: Combining blockchain technology with IoT sensors, RFID tags, and other monitoring technology enables each party in a supply chain to ensure that products are being kept in agreed-upon conditions and empowers participants to identify and remedy mistakes in real time.

• Dispute resolution: Faster and more transparent record-keeping means that disputes can be resolved in a fraction of the time. Furthermore, parties can use blockchain to create smart contracts in which compliance with preset terms automatically triggers compensation or fines.

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