Forget Bitcoin: Here’s the Real Reason Companies Should Embrace Blockchain
Distributed-ledger technology is most useful for assuring quality within supply chains. Here’s how to incorporate it.
The basis for all business is supply and demand, but recent events have shown that supply can be more fragile than we might expect. For example, KFC’s chicken shortages in the U.K. forced two-thirds of its 900 restaurants to close while the company worked to repair its delivery, via DHL. (And this was then followed by a gravy shortage.)
Ultimately, it turned out that those U.K. events were because of human error, not any lack of chicken. And that revelation only reinforced how critical excellent record-keeping and accountability are for maintaining supply chain integrity. But help is on the way: Fortunately, the supply world will soon be revolutionized by the innovative solution of blockchain.
Blockchain: the next wave in supply chain management
The most promising approach to robust supply-chain data is likely blockchain technology, a relatively new approach to digital record-keeping most famously associated with cryptocurrencies such as Bitcoin but applicable to many domains.
Read the full article here: Reasons For Businesses To Embrace Blockchain
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