In a simplified way, blockchain is a network that allows the exchange of information in a decentralized, instantaneous way without intermediates or moderators. It is considered by many experts one of the most impressive technologies in recent history, with great potential to change the way we handle network data. The main properties of Blockchain are:
Traceability enables companies to monitor their products from the production line to their use in the marketplace. When traceability is incorporated into a production chain, it means that the whole process has its integrity and transparency guaranteed.
Blockchain is already used by companies to improve the traceability of their production chains in an auditable and identified way. The search for information is done in an agile way, combating misinformation, optimizing processes of transportation and shipment of goods, as well as the valorization of the brand.
The lack of transparency in the supply chain makes it extremely difficult to investigate and hold any problems or even falsifications that occur along the chain. Eventually, a crisis or accident in a supply chain tarnishes the reputation and costs millions to the companies involved.
Several companies are already using Blockchain technology to improve the management of their supply chain data. The Blockchain applied in a Supply Chain can guarantee: