Blockchain Adoption: Supply Chain and Sustainability Applications

Blockchain already is an integral and vital tool upon which—and with which—new, innovative solutions are being created, and the Survey shows confidence amongst respondents that blockchain solutions will gain even greater traction within the global business community over the next 12 to 24 months.

Blockchain is a disruptive technology. In fact, it undermines old ways and habits of tracing (or not tracing) the exchanges carried out within a process, ensuring transparency and being able to allow the information to remain unalterable." It is not like many people think of new technology, given that after the first implementations related to cryptocurrencies and therefore to the famous bitcoins, applications in the world have spread and are now important and easily accessible even by small and medium-sized enterprises.

What is the link between Blockchain and Sustainability?

The link is undoubtedly strong and in some cases quite evident. Having a mechanism that allows transactions to be carried out safely not only simplifies relationships between subjects but improves interoperability and solves trust problems between companies by improving their operations.

What developments can we expect with the growth & adoption of Blockchain?

If it is true that the application of this technology is already a reality today, it is also true that we will see a big push in the next two or three years. And then the most interesting part will be in working on the integration of the different Blockchains (such as Hyperledger and Ethereum) and also of those with systems that do not use Blockchains. One of the best things about our job is to find out how technologies and their applications evolve and how our partners will work.

Blockchain could slash the cost of transactions and eliminate intermediaries like lawyers and bankers, and that could transform the economy. But, like the adoption of more internet technologies, Blockchain’s adoption will require broad coordination and will take years.

We hope you have found this article informative and interesting. For more information or queries contact us to know more about this technology.

Create greater connectivity acrosssupply chain networks with our Blockchain services.

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