Blockchain Adoption: Supply Chain and Sustainability Applications

Blockchainis 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.

If you have been following banking, investing, or cryptocurrency over the last ten years, you may have heard the term “blockchain,” the record-keeping technology behind the Bitcoin network.

What is Blockchain?

Blockchain seems complicated, and it definitely can be, but its core concept is quite simple. A blockchain is a type of database. To be able to understand blockchain, it helps to first understand what a database actually is.

A database is a collection of information that is stored electronically on a computer system. Information, or data, in databases is typically structured in table format to allow for easier searching and filtering for specific information. What is the difference between someone using a spreadsheet to store information rather than a database?

Spreadsheets are designed for one person, or a small group of people, to store and access limited amounts of information. In contrast, a database is designed to house significantly larger amounts of information that can be accessed, filtered, and manipulated quickly and easily by any number of users at once.

Large databases achieve this by housing data on servers that are made of powerful computers. These servers can sometimes be built using hundreds or thousands of computers in order to have the computational power and storage capacity necessary for many users to access the database simultaneously. While a spreadsheet or database may be accessible to any number of people, it is often owned by a business and managed by an appointed individual that has complete control over how it works and the data within it.

Sustainable supply chain management involves integrating environmentally and financially viable practices into the complete supply chain lifecycle, from product design and development to material selection, (including raw material extraction or agricultural production), manufacturing, packaging, transportation.

Sustainability in the supply chain encapsulates several different priorities:

· Environmental stewardship

· Conservation of resources

· Reduction of carbon footprint

· Financial savings and viability

· Social responsibility

Supply chain sustainability practices, in order to succeed, must deliver improved environmental performance within a financially viable operating construct.

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