How Blockchain Is Disrupting The Supply Chain Industry
Introduction Blockchain technology is proliferating rapidly from the day it has been introduced. The application of blockchain in supply chain & logistics sector is becoming a trendy approach. Blockchain technology is entering a dynamic phase of development that will have a huge impact on every aspect of the supply chain and logistics management, ranging from procurement to forward logistics and further. What is blockchain by the way? Blockchain is a distributed ledger of economic transactions that is incorruptible and can be designed to record every value virtually besides financial transactions. In simple terms, blockchain is a time-stamped series of immutable data set, controlled by a grid of computers and not claimed/owned by any single entity. Each of the data blocks is safeguarded and linked to each other through cryptographic hashes. What is Supply Chain & Supply Chain Management? The chain between producers and consumers or manuf