Supply Chain Sustainability: 3 Key Impacts of Blockchain Transparency

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Imagine a supply chain operating system that provides better transparency.

Greater scalability, better security, and increased creative opportunities.

Finding ways to make the supply chain transparent, efficient, cost-effective and error-free today are ongoing tasks.

Blockchain transparency is promising to meet all those needs, and in fact, already is in some supply chains.

How Blockchain Transparency is Changing Supply Chain

Blockchain technology provides secure transparency in all kinds of transactions.

This is what makes it an amazing opportunity for supply chains, and just one of the benefits of blockchain transparency.

This technology is what gave bitcoin public recognition with its incredible ability to track transactions and permanently record them, keeping the original information securely.

While the data that is stored is accessible and users can add to it, they cannot change or delete it.

For supply chains, anytime a product is transferred from one warehouse or distribution center to another, the transaction would be documented permanently.

This would create a permanent history of the product from production to when it is sold.

This data would help companies reduce delays is shipping, added fees and human errors in a very dramatic way.

Three Benefits of Transparency 

Supply chains are complex networks made up of several independent organizations that exchange goods, data, that send and receive payments.

The problem with these complex networks is they currently lack transparency.

Blockchain technology is the answer to provide transparency.

1. Environmental Impacts and Supply Chain Transparency

Holding supply chains accountable as a result of blockchain in logistics will help to make visibility better.

Visibility will result in a system that is better for the environment, public health, and food safety.

More importantly, it will enable supply chains to be sustainable and better for the environment.

Accountability is just one of the benefits of blockchain transparency, reducing environmental impacts and improved business ethics.

2. Privacy and Transparency 

Another one of the benefits of blockchain transparency is that it is able to protect individual privacy while keeping the records of transactions public.

That’s a pretty neat trick! But it is more than a trick, it is a very robust and solid technology that conceals the identity of a user behind some high powered cryptography.

What that means is everything is accessible that needs to be accessible. 

If it doesn’t need to be accessible i.e. personal information of an end user, then it would be incredibly difficult if not even impossible to link to a public address.

3. Does Transparency Equal Trustworthiness

This technology provides a lot of benefits. When you take all the benefits like security, privacy, transparency, and decentralization and put them all together you get a surprising quality.

Trustlessness. So what does that mean? It means that this platform provides such a high level of all of these benefits that you don’t even have a need to trust it.

It really goes beyond expectations with how secure it is and the transparency it provides.

Blockchain is the Future of Supply Chain

Because this technology can create a solution that benefits every part of a supply chain, is reason to believe it is the future.

On top of that is the transparency it provides for the logistics in your supply chain along with traceability. Every metric from the manufacturing of a product to the delivery is a part of the permanent record.

Optimization of transactions and relationships with blockchain transparency is strong and secure not only on local networks but also globally.

Are you ready to learn more? Register for the 2nd annual blockchain supply chain summit today!

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