[2018-07-08] 3 Reasons Why Blockchain Is the Future of Supply-chain

Bitcoin Garden: 3 Reasons Why Blockchain Is the Future of Supply-chain (SCM) and Manufacturing
https://bitcoingarden.org/3-reasons-why-blockchain-is-the-future-of-supply-chain-scm-and-manufacturing/

Every day in the world, a crypto-trading millionaire is born. With blockchain startups pushing the fifth gear into launching their ICOs and raising money, the underlying truth of the viability of blockchain technology lies within its implementation. The hard truth!

Conversations surrounding the industry application of the ledger based technology sprung forth from the Financial Services and Banking sectors, but at the turn of mid-2018, it looks like the most cumbersome industry has turned favourable. Supply-Chain Management (SCM) and Manufacturing have opened their doors to blockchain.

Supply-Chain Management, in totality, deals with the procurement, production, storage and delivery of a product. Hence the backbone of supply-chain management, which is Logistics and Handling, has found the immediate requirement for blockchain technology.

The Logistics and Handling industry, within the realms of the international economy, has seen a downward spiral over a span of just 5 years. From one of the leading industries, in terms of Man Power, Investments and Sheer Size, the logistics division had reached an impasse. Industry giants like MAERSK and L&T (Larsen and Toubro) have laid off nearly 20,000 employees across the globe, and liquidated assets amounting to Millions of dollars, to cover up losses. This included the closing of their hazardous elements transportation division and the sale of their 1,000 strong vessel fleet....