Shulou(Shulou.com)06/01 Report--

The benefits and practical analysis of the application of blockchain to the supply chain, in view of this problem, this article introduces the corresponding analysis and solution in detail, hoping to help more partners who want to solve this problem to find a more simple and feasible method.

Blockchain can solve many problems in the supply chain, such as recording and tracking products. So what are the benefits of using blockchain to apply to each product supply chain? Headhunters offer a reward platform to solve the outstanding talent network editor to give you a simple share:

One of the most prominent advantages of using blockchain is that it can make data more interactive. Because of this, companies can more easily share information and data with manufacturers, suppliers, and so on. The transparency of the blockchain can help reduce delays while preventing products from stagnating in the supply chain. Each product can be tracked in real time, and the probability of error prevention is very low.

Blockchain can provide any large database scalability. At the same time, it also provides a higher level of security and the ability to customize based on data.

Moreover, blockchains can be created in a private way, allowing data to flow between different individuals who are granted permission.

Using the value of the blockchain can gain the value of connecting different books and data, while ensuring that the data integrity can be maintained among multiple participants. The transparent and immutable characteristics of blockchain technology can eliminate fraud in the supply chain and maintain the integrity of the system.

Besides the above, there are other benefits: 1. Reduce or remove fraud or error 2. Improve inventory management 3. Minimize the cost by 4. Reduce the delay caused by paper documents by 5. 5. The identity problem is resolved more quickly. Increase the trust of clients and partners.

So what is the specific application of blockchain in various industries and products at present?

With the improvement of popularity, blockchain technology can become a solution for many industries. Supply chain is one of the most famous fields, and there are many application examples of block chain. The transportation of a single cargo will involve at least 20-25 people or enterprises, which will lead to about 200 interactions, making the process take a long time.

If used correctly, the block chain technology can ensure the traceability of the whole block chain. Thus, the obstacles are reduced and the security in the process can be guaranteed. Blockchain technology in the supply chain also allows manufacturers, transporters and end users to obtain data, learn trends, and bring better process management to their product experiences. Let's take a look at the application of blockchain technology in the supply chain.

Verification of seafood food

There is a lot of negative news in the seafood supply chain, but because of the lack of transparency, they always do so. The current seafood supply chain has a process similar to manual input, which is prone to errors. Moreover, other problems can lead to inefficient seafood supply chains, resulting in poor food storage conditions, fraud and unregulated activities.

For these reasons, the quality and safety of seafood can not be guaranteed, which is also threatening the economic security of the industry. And because there are different frauds throughout the supply chain, trust between customers and suppliers will be lost.

Blockchain technology can provide a solution to the verification problem of seafood because it can track the production and sale of fish and seafood from the source. Companies such as Hyperledger have also begun to apply blockchain technology in their projects to solve the seafood problem in the supply chain.

The super ledger sawtooth lake project is to introduce the functions of transparency and verifiability through the block chain platform, and finally reform the supply chain industry. It uses the elapsed time proof (POET) consensus algorithm to enable all parties of the system to reach a consensus without knowing the information of others.

The sabre tooth lake agreement allows seafood to be detected by sensors in the supply chain to know the time and space of these products on the block chain. This allows consumers to know the record and source of product information.

Coffee supply chain

When you wake up in the morning for coffee, you don't even realize how complicated the supply chain is. The global network of the coffee supply chain is very complex and in great need of reform. Coffee production is fragile because it is grown in developing countries and is in more remote areas. Other factors affecting coffee production, such as unstable prices and the effects of climate change, also need to be taken into account.

Moreover, as farmers and landlords come from remote developing countries, there will also be all kinds of illegal activities. As the whole supply chain system is very complex, the reference of the coffee supply chain to the block chain is also very reasonable, and it will also bring efficiency and transparency to the whole system.

The use of blockchain in the coffee supply chain can be more efficient and fairer, because the system ensures that payments are made directly to farmers. On the other hand, end customers can also see the data and trace the source of the coffee.

Medical field

Pharmaceutical supply chain is also an important area in which blockchain benefits can be obtained. With the increase of the global pharmaceutical market, more and more attention has been paid to the counterfeiting of drugs. This is a risk for all mankind, and the risk of this kind of medicine cannot be underestimated.

For the complexity of the current pharmaceutical supply chain, there will be many reliable technologies and management systems to ensure the security of the whole system. Blockchain technology can solve this problem because it will become a solution for supply chain-related applications.

In medical systems, the fraudulent nature of the system leads to many pain points, such as little visualization of tracking and verifying products. These benefits can be achieved by referencing blockchain technology in these cases. Drugs are labeled, and once scanned, their records are kept in a secure block in the blockchain. These records are updated in real time as the drug is transferred. Someone can have the authority to check, including the patient, and check the records at any time.

The immutability of the blockchain provides a solution for drug tracking and allows people to check whether the system is affected. In addition to ensuring product integrity and preventing fraud, blockchain technology can help solve the financial problems faced by many small retailers.

Food supply chain

The food supply chain is becoming more and more complex, so it is difficult to ensure the authenticity of products in the whole supply chain for food producers, suppliers and retailers.

Food safety issues, including cross-supply chain certification and the popularity of food issues, are made worse by a lack of data and traceability. If you need to find out the real reason, it will now take days or even months. So, this has led to many people getting sick, reducing profits, and wasting food.

Consumers have come to understand that transparency is very important in the food supply chain. At present, about 12% of consumers believe in brands, while 94% think it is more important for them to know about the products they buy.

Blockchain solves the problem of complex supply chain by providing accurate information in the platform. Because there is no third party involved in transfer verification, and anything based on consensus, users and operators have to follow the rules.

Blockchain brings many advantages to the food supply chain. Food manufacturers can guarantee the source and quality of the goods while tracking any false information in the supply chain. If identity fraud is encountered, the supplier is warned and the message is sent to the retailer, even before the goods arrive at their destination.

Similarly, for retailers, if food is destroyed during storage, it can verify and remove these products instead of checking all inventory. Through blockchain technology, consumers will be transparent and open when they need assurance about food production. This allows consumers to identify and consume high-quality food.

Automobile supply chain

The supply chain of the automobile industry is also very complex, including parts suppliers, manufacturers to retailers, and there are many participants. Outputting true value like customers requires analysis of existing IT and business processes, as well as access to security, privacy and authentication. Blockchain can complete this perfect solution. For car suppliers, blockchains can be used to protect their brands from infringement, while creating a customer-centric business model.

In the automobile supply chain, fraudulent products will cause great problems for automakers. Moreover, on the current market, many counterfeit accessories have billions of dollars. There will be other channels for such products to enter the car company. Counterfeit products are not reliable and can break down, which will make end customers dissatisfied with car brands. With the introduction of blockchain technology, these fakes have nowhere to go, and it is easy to identify them. The digital authentication of spare parts can add transparency to the system and can also be shared in the network.

Internal logistics and intelligent manufacturing can make the automobile supply chain very efficient through block chain technology. At present, the tracking of individual accessories is very complex and prone to errors. The coordination of multi-level suppliers, third-party logistics and logistics companies is necessary for the whole supply chain. By using blockchain technology, we can ensure accurate and real-time access to information. The participants can get the status, quantity and location of the parts.

Similarly, the outsourcing supply chain is very complex, including sales channels, manufacturers and retailers. These participants do not have a common data sharing model, which makes it difficult to exchange information. The system-based shared block chain ensures visualization and transparency, which also ensures faster transfers and shorter settlement cycles.

The benefits of blockchain application to the supply chain and the answers to the actual analysis questions are shared here. I hope the above content can be of some help to you, if you still have a lot of doubts to be solved. You can follow the industry information channel for more related knowledge.

Welcome to subscribe "Shulou Technology Information " to get latest news, interesting things and hot topics in the IT industry, and controls the hottest and latest Internet news, technology news and IT industry trends.