IBM and Maersk Demo Blockchain Cross-Border Supply Chain Solution.
This IBM and Maersk demo of Blockchain could revolutionize supply chain. Blockchain isn’t just a financial tool. Imagine being able to track a product from raw material to the customer and always know about all aspects of the product. How could this be used throughout the supply chain, especially with counterfeit product? Blockchain and artificial intelligence will disrupt all industries. Emerging technology is changing automation across the board.
Maersk Blockchain Examples
- Tracking and tracing shipments: Blockchain can be used to create a tamper-proof record of the movement of goods and materials throughout the supply chain. This can help to improve visibility and transparency, and to prevent fraud and counterfeiting.
- Automating documentation: Blockchain can be used to automate the exchange of documentation, such as bills of lading and customs declarations. This can help to reduce paperwork and improve efficiency.
- Improving collaboration: Blockchain can be used to create a shared platform for communication and collaboration between different parties in the supply chain. This can help to improve coordination and decision-making.
- Reducing costs: Blockchain can help to reduce costs in a number of ways, such as by reducing paperwork, improving efficiency, and preventing fraud.
Supply Chain and Blockchain Quotes
- “You could imagine something like a completely automated system for renting bikes that’s just done completely over blockchain crypto-payments. And theoretically just sort of start it up, and it works completely autonomously.” ~Vitalik Buterin.
- “Blockchain is a key technology in the digital supply chain.” ~EverythingSupplyChain.com.
- “A lot of people automatically dismiss e-currency as a lost cause because of all the companies that failed since the 1990s. I hope it’s obvious it was only the centrally controlled nature of those systems that doomed them. I think this is the first time we’re trying a decentralized, non-trust-based system.” ~Satoshi Nakamoto, Founder of Bitcoin.
- “The following technologies provide supply chain capabilities that were not possible in the past: IoT, Big Data, Blockchain, Machine Learning, Deep Learning and Augmented Reality.” ~EverythingSupplyChain.com.
