VAIBHAV VOHRA

Cargo Talk - - Opinion -

Face of the Fu­ture 2017 & Man­ag­ing Di­rec­tor, Con­ti­nen­tal Car­ri­ers Blockchain is great tool which uses a dis­trib­uted database sys­tem hold­ing records of events/trans­ac­tions oc­curred in a se­ries of blocks which makes it tam­per-re­sis­tant. The tech­nol­ogy can trans­form the SCM in the fol­low­ing way: Com­plete Trace­abil­ity En­hanced Trans­parency Bet­ter Se­cu­rity Cost op­ti­mi­sa­tion How­ever, there would be two ma­jor chal­lenges for com­pa­nies to watch out for, i.e. ecosys­tem is still in its de­vel­op­ment stage and every­one who needs to avail the blockchain tech­nol­ogy needs to en­gage their hor­i­zon­tal and ver­ti­cal sup­ply chain part­ners too. Se­condly, op­er­at­ing on the blockchain needs ex­ten­sive pro­gram­ming skills so the com­pa­nies needs to train their staff be­fore or hire new staff with rel­e­vant skills. There­fore, high re-skilling cost.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.