Decentralized Inventory Management

[Anthony1s]

Today I was envisioning a decentralized inventory management system that utilizes blockchain and proof-of-stake technology. With the goal being that the blockchain will hold all the inventory and in and out transactions of items. Possibly a large pre-mine, where the coins will be sold to investors in the company. Possibly sell the company coins instead of company stocks. People who hold stake in a company also help maintain it's inventory system. I'm not knowledgable enough to set this up, but I'd like to throw the idea out there and get some opinions about this.

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[Anotheranonlol]

Today I was envisioning a decentralized inventory management system that utilizes blockchain and proof-of-stake technology. With the goal being that the blockchain will hold all the inventory and in and out transactions of items. Possibly a large pre-mine, where the coins will be sold to investors in the company. Possibly sell the company coins instead of company stocks. People who hold stake in a company also help maintain it's inventory system. I'm not knowledgable enough to set this up, but I'd like to throw the idea out there and get some opinions about this.

Your vision has been realised. DPoS is used.

http://signup.skuchain.com/
https://www.youtube.com/watch?v=a7an9RkCG4s

[chennan]

Good idea! Even the company can take the advantage of crypto concept! It will eliminate a lot of redundant process and unnecessary cost.

[Anthony1s]

Today I was envisioning a decentralized inventory management system that utilizes blockchain and proof-of-stake technology. With the goal being that the blockchain will hold all the inventory and in and out transactions of items. Possibly a large pre-mine, where the coins will be sold to investors in the company. Possibly sell the company coins instead of company stocks. People who hold stake in a company also help maintain it's inventory system. I'm not knowledgable enough to set this up, but I'd like to throw the idea out there and get some opinions about this.

Your vision has been realised. DPoS is used.

http://signup.skuchain.com/
https://www.youtube.com/watch?v=a7an9RkCG4s

Thanks for that. I finally got around to watching it. It's not exactly my idea, but it's similar. I'm talking more about an internal inventory system with a goal of maintaining better inventory records and not a supply chain with a goal of avoiding counterfeiting. I think I can put some of his ideas into understanding the solution to my own problem though.

[claycoins]

Would have to have an advantage over a traditional database.

[Anthony1s]

Would have to have an advantage over a traditional database.

The advantages I see are:

1) Decreased server load on company-owned equipment. By having everyone who own this "coin" verify and manage the inventory database

2) Decreased need for database backups and redundant servers. The blockchain would be loaded on any computer running the wallet client

3) Alternative revenue to the company by selling the coins. Proof-of-stake incentivizes others to run the client and maintain our inventory database. The coins would be sold by the company as a stock alternative

As far as keeping better inventory, this wouldn't change. However, ideally a RFID/NFC tagging system would be integrated with this system. Leaving less room for human error.

How good is the blockchain at handling multiple items? I know it can keep track of one item (bitcoin), but is it capable of handling 150 different assets?

[MisO69]

Would have to have an advantage over a traditional database.

The advantages I see are:

1) Decreased server load on company-owned equipment. By having everyone who own this "coin" verify and manage the inventory database

2) Decreased need for database backups and redundant servers. The blockchain would be loaded on any computer running the wallet client

3) Alternative revenue to the company by selling the coins. Proof-of-stake incentivizes others to run the client and maintain our inventory database. The coins would be sold by the company as a stock alternative

As far as keeping better inventory, this wouldn't change. However, ideally a RFID/NFC tagging system would be integrated with this system. Leaving less room for human error.

How good is the blockchain at handling multiple items? I know it can keep track of one item (bitcoin), but is it capable of handling 150 different assets?

So you want to replace an SAP system that controls an entire company with a blockchain? Never going to happen. No company will want their data "out there" and the speed of an  Oracle database vs a peer to peer network is night and day. It can't work.

[Nxtblg]

A decentralized inventory blockchain would be a tough sell because it's counterintuitive. A company is a centralized institution. Granted that a company can exist in a decentralized industry - look at how many independent convenience stores there are - but a company itself is centralized.

Decentralization is more intuitive for a co-operative, run like an old-style mutual insurance company.

[Anthony1s]

A decentralized inventory blockchain would be a tough sell because it's counterintuitive. A company is a centralized institution. Granted that a company can exist in a decentralized industry - look at how many independent convenience stores there are - but a company itself is centralized.

Decentralization is more intuitive for a co-operative, run like an old-style mutual insurance company.

Yea, it seems like one of those ideas where it's possible but just because it's possible doesn't mean it's a good idea. I struggle to find advantages to it.

[Clive]

I am really surprised how easy it is to use for my inventory management. It improved my business efficient , you can also try Erplain for free.