BlockChain the biggest Disrupter for Supply Chain management in 2018
Introduction
As you know the current EDI (Electronic Data Interchange) system plays a vital role in the electronic transfer of business information. But here comes the next big thing Blockchain, referred to as the most important invention after the internet itself will be the Game changer will enable greater supply chain efficiency than ever before.
What is Blockchain?
What is Blockchain?
The blockchain is a distributed database that holds records of digital data or events in a way that makes them tamper-resistant. The transactions are stored in an organized way known as blocks, while the following transactions are stored in a new block every time. The arrangement of several blocks in a logical sequence of transaction piles up to make a chain where every transaction has its own timestamp which is secured by a cryptologic process. To sum it up blockchain is a record-keeping mechanism
Effect of Blockchain on Logistics Industry:-
Blockchain will enable you to track all transactions more securely and transparently through the whole supply chain, reducing the errors, delays and additional costs associated with the process of creating a more efficient workflow.
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