The use of blockchain in supply chains
The word blockchain seems to be on everybody’s minds these days. And rightfully so, it is perhaps one of the biggest information technology breakthroughs since the internet. A blockchain provides companies new ways to transact in an immutable, transparent and auditable way.
What is a blockchain?
The definition of a blockchain might be complicated in technical terms. However, the simplest definition of a blockchain is a distributed ledger of transactions across a network.
Blockchain is not the same as bitcoin, which is a digital currency that uses blockchain technology.
Supply chains and blockchain
Blockchain can potentially assist with traceability and transparency in supply chains, which is what ChainPoint has been doing for the last 10 years, namely providing collaborating partners in the supply chain with transparency of information which leads to trust, more efficiency and lower costs.
Our customer's experience
Our customer Tony’s Chocolonely experimented with blockchain in a pilot in October 2017. In this great article they describe their mission, their need for tracebility and their findings.