Can Blockchain Unblock Supply Chain?

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When people hear about Blockchain technology they think of “Bitcoin” and because of this association – The underlying Blockchain technology has been always been viewed suspiciously due its rather radical approach to data sharing on an open platform using cryptography. Can Blockchain unblock Supply Chain?

However the application of the Blockchain technology itself is not just limited to digital currency as the technology can be used for open collaboration for any information across almost any industry.

This article introduces the concept of Blockchain technology and discusses its application in revolutionizing the traditional supply chain processes which are often based on “multiple bilateral links joined together to form a chain” as opposed to the Blockchain which is based on the “formation of an open ecosystem for collaboration”.

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The Next Generation Supply Chain is Cloud Computing!

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We’re going to take a look at cloud computing and how it integrates all supply chain technologies. Cloud computing has been around for a while but growing in popularity and integration.

All data will eventually reside in the cloud. Let’s be sure we understand what the cloud is. The cloud refers to software and services that run on the Internet, instead of locally on your computer.

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How Industry 4.0 is Changing and How Blockchain Fits!

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There are many components of how Industry 4.0 is changing, some of which are not yet fully defined, or fully understood. Other components may emerge as technology is continually emerging. These new tools are sure to amplify the prospective results of Smart Manufacturing solutions.

There has been much learning from both the initial sales interactions and actual installations. In the sales cycles, providers of Smart Manufacturing components or integrators of complete 4.0 systems have encountered resistance.

Some of the push-back is driven by the fear of disruption of production, loss of revenue or customer dissatisfaction.  Others are concerned about not attaining the “expected” ROI.

However, one of the biggest areas of resistance has to do with the workforce and the prospective impacts on company culture. 

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4 Ways Blockchain is Revolutionizing Supply Chain!

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Have you ever wondered where your favorite shirt, pillow, shoes, or snack came from? All of these products follow a supply chain and are tracked down along every step of it. From the raw materials’ origin and production of items to delivery and distribution—the entire process is no joke! Thankfully, blockchain is revolutionizing Supply Chain and can help make Supply Chains operations seamless and more efficient.

Most people encounter this term after searching for “What is Bitcoin (BTC)?” on the web, and that’s because blockchain is the powerful mind behind BTC. But aside from being the brain behind today’s dominant crypto, blockchain also has its fair share of developments in various fields, including the supply chain.

Before we dive deeper into that, let’s first define what it is.

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What’s the Difference Between Blockchain and Supply Chain?

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The phrase “Supply Chain Management” was first coined in 1982.  The idea of a  “Blockchain” was conceived in 2008 although the concept of a chain of blocks began as early as 1991, and use of the word Blockchain itself has only become popular in the last few years.

Blockchain has rapidly become a very widely used term, at first intended to describe the enabling technology platform behind Bitcoin.  However as awareness and knowledge of the technology has been increasingly understood the words Blockchain and Supply Chain are more often used together.

As people become more familiar with Blockchain, and consider it’s applicability in their strategic Supply Chain plans, we thought it important to clarify how Blockchain and Supply Chain are different yet mutually supportive.

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Maritime Industry in Search of Blockchain Orchestrator!

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A current topic of focus in the maritime industry technology space is Blockchain and how it is going to transform commercial operations.

The Blockchain platform is a distributed ledger which records transactions between parties in a verifiable and, most importantly, permanent way by using a cryptographic hash.

When all major parties approve and implement a single blockchain system, then the entire commercial channel would be transformed into a super rapid, secure and totally digitalized environment.

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How Hollywood Adjusts to Blockchains and NFTs!

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Several issues have hampered the expansion of Hollywood businesses in recent years. The Covid-19 crisis worsened these issues, which caused production to halt, distribution cycles to delay, and theaters to respond by postponing releases.

In addition to these issues, a more significant problem has jeopardized this business’s growth and current establishment over the years. It is the nuances of technology. However, this is not the issue for Hollywood’s Blockchain, NFTs, and Cryptocurrencies.

Recently, Blockchain technology has been the leading force for good changes in various industries. For example, NFTs are one use of logy that has had a significant positive impact on the entertainment industry, such as Hollywood.

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Most Popular Women in Cryptocurrency!

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Cryptocurrency is a digital currency and is based on encryption techniques, which are used in regulating the currency units. The same encryption techniques are used in the transfer of funds and these digital currencies operate independently, without the role of a central bank. This has also brought to the forefront the most popular women in cryptocurrency.

The penetration of digital advancements in every field and sector of the society has given impetus to the growth and development of cryptocurrencies as well.

But the term and its workings are still quite unknown to the common person and to understand it, let us take a closer look at the main role of cryptocurrency and how it is valuable to the society.

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How is Blockchain Technology Revolutionary?

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Bitcoin seems to be rising in terms of price and value., enabled by Blockchain technology revolutionary capabilities. The coin seemed to have traversed a considerable path from just a few pennies and cents to coming close to 70K USD.

There is a growing trend in the market claiming that the coin has an interesting thing to share. One can find a good amount of lip service being given to Bitcoin by the top companies that seemed to be adding the current financial status quo.

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The Non-Fungible Token (NFT) Overview!

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We can consider the Non-Fungible Token (NFT) as the cryptographic asset which operates on blockchain technology and does have a unique identification process. However, every NFT is differentiated because of its distinguishing features.

Many people confuse NFT with cryptocurrencies, but it is crucial to clarify that they are entirely different from crypto coins.

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4 Industries That Blockchain Will Disrupt!

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Unchaining Change Leadership

As you might be aware, Blockchain is rapidly gaining popularity and there are many industries that Blockchain will disrupt. But it’s still starting to raise questions around corporate strategies. In reality, several companies have discovered that Blockchain technology is superior to existing methods for performing critical tasks.

Let’s have a peek at the four big industries that are being impacted by Blockchain technology.

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Why Polkadot Could Be Great For Blockchain!

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Polkadot is a blockchain 3.0 platform that allows for the creation of interoperable blockchains, offering scalability and security. The idea behind Polkadot is that if you want to create a new application or run an existing one, you could build it on top of one of these interoperable blockchains and have access to all their benefits without having to start from scratch. 

This means that anyone who wants to create their own blockchain can do so using this framework instead of having to find engineers who understand how each individual piece works separately in order to build something new from scratch.

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The Benefits of Blockchain to the Economy!

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Virtual currencies impact the economic system that extends well beyond the chances for the financial gain they provide. They are blockchain-based, which has proven to upend practically every sector of commerce that man has encountered, due to the benefits of blockchain.

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What is Blockchain? And How Does it Work? (Infographic)

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Blockchain!

What is all the fuss about?  It’s a word that was rarely used or even heard of in Supply Chain not that long ago.  But now it is very common to hear about Blockchain.  Further it is often used in the context of being a necessary and integral part of any Digital Supply Chain Strategy.

Most companies do not yet have a Blockchain strategy.  More importantly  most people do not even know what it is.  How can you have a strategy for something if you don’t know what it is?  So, as with anything, let’s start at the beginning.

What exactly is Blockchain?

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Blockchain and Information Governance! (Infographic)

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Consider any company that procures goods and services from a vendor. There are numerous processes involving several departments which have to draft different records – purchase orders, term sheets, statements of work, incremental revisions, etc. These records are crucial for resolving any disputes, including Blockchain information governance.

Now, imagine there was a disagreement and forged documents were presented. It would be a long, tedious, and most probably costly process before parties get to the bottom of the issue. That’s why we need information management, which main task would be to keep track of all documents.

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