The primary efficiencies that blockchain technology brings about —transparent and immutable records, automated contracts, speedy and secure transactions of value —lend themselves perfectly to supply chain solutions. Logistics and blockchain have proven an immediate conceptual fit, and both major enterprise and upstart businesses are looking into ways to integrate the emergent technology into their workflows to take advantage of the development.
Unlike certain supply chains, the blockchain world moves fast. New initiatives and endeavors undertaken by companies ranging from major corporations like Starbucks and Wal-Mart to equipment manufacturing giants like Hastings Deering and scores of startup looking to bring transparency, efficiency, and clarity to the global supply chain industry.
To keep you up to speed on all the developments regarding supply chain and blockchain tech, here’s some essential reading from some of the world’s leading publications and clued in blogs alike…
Wall Street Journal: Bringing Blockchain to the Coffee Cup
“Denver’s Coda Coffee Co. this week is offering what it calls “the world’s first blockchain-traced coffee,” giving customers access to a cloud-based ledger that tracks every stop along their coffee’s supply chain. By scanning a QR code associated with the batch of coffee they bought, customers can see the date and location of every transaction — from collection at the farm to washing and drying, milling, export, roasting and retail.”
Harvard Business Review: Global Supply Chains Are About to Get Better Thanks to Blockchain
“Although much attention and money has been spent on financial applications of the technology, an equally promising test case lies with global supply chain relationships, whose complexity and diversity of interests pose exactly the kinds of challenges this technology seeks to address.”
TechRepublic: Walmart, British Airways, and UPS are Using Blockchain to Drive their Supply Chain
“Using blockchain, Walmart employees can track some products back to their roots — literally. After scanning mangoes or a couple dozen other products with the store’s app, employees can see which farm the fruit came from and where it’s stored in the backroom, according to the Wall Street Journal. The technology could help customers understand where their food comes from and could streamline the restocking process.”
Why Blockchain is a Game Changer for Supply Chain Management Transparency
“If blockchain technology allows us to more securely and transparently track all types of transactions, imagine the possibilities it presents across the supply chain. Every time a product changes hands, the transaction could be documented, creating a permanent history of a product, from manufacture to sale. This could dramatically reduce time delays, added costs, and human error that plague transactions today.”
Introducing MOVA, A Global Supply Chain Solution
“The distributed ledgers, immutable records, and decentralised access offered by blockchain renders the technology an ideal catalyst for evolution of global supply chain models. MOVA leverages the Ethereum blockchain to link producers and shipping providers with automated Smart Contracts, track goods real-time with MOVA GPS, and exact instant payments with built in incentivisation mechanisms.”