Supply chain security issues are far too complicated to tackle with passwords, access cards, and software suites alone and Blockchain is the best solution for Supply Chain security.
Developed originally as a type of distributed database, blockchain is a shared database system through which digital records can be stored, viewed, and updated by multiple users through a decentralized network on the Internet.
Complex logistics processes, a lack of uniform digital infrastructure, and several intermediate players between a shipment’s source and final destination make it difficult to guarantee transparency and accountability in a large supply chain network.
The accuracy and security of information logs in a modern supply chain is essential, especially when it comes to identifying who is liable.
The complications (and sometimes lack) of effective information sharing and trust in supply chains is what’s fueling interest in supply chain blockchain technology and its potential to improve data sharing and visibility in the logistics and supply chain industry.