Why Blockchain Matters More Than You Think!

Great presentation that talks about why blockchain matters. Go beyond bitcoin. Blockchain impacts many industries, especially supply chain. Combine blockchain with artificial intelligence and IoT and amazing automation can happen. We are entering the 4th industry revolution and the changes coming are immense.

Blockchain is a decentralized, distributed database that allows multiple parties to securely record and verify transactions without the need for a central authority. It is often used to facilitate and record financial transactions, but it can also be used to store and transfer other types of data, such as records, contracts, and intellectual property.

In the context of supply chain management, blockchain can be used to create a secure, transparent, and immutable record of the movement of goods, services, and information throughout the supply chain. This can help to improve the efficiency, traceability, and accountability of the supply chain by providing a single, tamper-proof source of truth for all parties involved.

For example, a blockchain-based supply chain system could be used to track the origin and movement of goods, verify the authenticity and quality of products, and facilitate the exchange of information and payments among supply chain partners. This could help to reduce the risk of fraud, errors, and disputes, and improve the overall efficiency and transparency of the supply chain.

In addition, the decentralized and distributed nature of blockchain technology can help to reduce the reliance on intermediaries and central authorities, which can further increase the efficiency and cost-effectiveness of the supply chain.

Blockchain Quotes

“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
“Ideas are like rabbits. You get a couple and learn how to handle them, and pretty soon you have a dozen.” ~ Jonh Steinbeck
“Without change there is no innovation, creativity, or incentive for improvement. Those who initiate change will have a better opportunity to manage the change that is inevitable.” ~ William Pollard
“I didn’t understand IoT, Big Data or Blockchain when I first heard these terms. Learn about them or get left behind.” ~SupplyChainToday.com
“Listen to anyone with an original idea, no matter how absurd it may sound at first. If you put fences around people, you get sheep. Give people the room they need.” ~ William McKnight, 3M President
“Tell me and I will forget, show me and I may remember, involve me and I’ll understand.” ~ Chinese Prover
“All we are doing is looking at the time line, from the moment the customer gives us an order to the point when we collect the cash. And we are reducing the time line by reducing the non-value adding wastes.” ~ Taiichi Ohno