Supply chain and logistics using Blockchain technology

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    How supply chain works on Blockchain
    Cryptocurrency is dominating the Blockchain technology and promises to create a world with virtual money that is decentralized and free from the control of central authorities like banks or governments.
    The real-time tracking of a product in a supply chain with the help of blockchain reduces the overall cost of moving items in a supply chain. Payments can be processed by customers and suppliers within the supply chain by using cryptocurrencies rather than customers and suppliers rather than relying on EDI.
    The term supply chain in the clothing sector refers to the back end of the industry. The supply chain in the clothing industry is made by connecting:
    • Raw material sources
    • Factories that use these raw materials and create final products
    • Distribution network that delivers these clothes to consumers
    Applications of blockchain
    Managing the modern, often global, supply chain is a series of intensive processes that require perfect orchestration between many moving parts and actors. Linking and creating the links to distribute goods and services looks much more like a web than a chain in our increasingly “smaller” global world.
    17 Uses of Blockchain Applications that are transforming society

    • Asset Management: Trade Processing and Settlement

    • Insurance: Claims processing
    • Payments: Cross-Border Payments
    • Unconventional money lenders/ hard money lending
    • Your car/ smartphone
    • Blockchain Internet-of-Things (IoT)
    • Smart Appliances
    • Supply Chain Sensors
    • Blockchain Healthcare
    • Blockchain music
    • Blockchain Government
    • Public value/ community
    • Vested responsibility
    • Blockchain Identity
    • Passports
    • Birth, wedding, and death certificates
    • Personal Identification

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