Thanks to the distributed ledger technology, all parties in the supply chain have access to the same data. A majority consensus manages any data alterations.
Blockchain keeps each record linked to connected sensors with unique and unchangeable identifiers, which allows tracing the entire history of each asset from the moment of production.
Smart contracts can automate various tasks traditionally requiring human involvement as well as remove middleman, making supply chain management more cost-efficient.
Blockchain keeps a permanent record of all supply chain histories, guaranteeing tamper-proof digital document trails and building trust among network participants.
Cryptographic keys protect every piece of data, with any corruption attempt immediately visible to the entire network. Private blockchains allow setting separate permissions.
Blockchain connects suppliers, distributors, manufacturers, and retailers in a single ecosystem where all parties have access to the same data.