CEO, Kale Logistics Solutions & India Cargo Award winner 2017
Blockchain technology acting as a digital distributed ledger can certainly bring about a transformational change in the way global supply chains are operating in today’s world. This is simply because it works on the principle of maintaining a secure transaction ledger, wherein the role of each participant is defined, leaving no scope for deception or malpractice. While transparency across the supply chain is one of the key advantage of placing a blockchain system, there are several other advantages resulting from the crossover of blockchain technology and the supply chain. A well-structured blockchain network can provide local producers with a decentralised platform for sharing and exchanging skills, resources and products without relying on third parties. Blockchain inherently provides security, authenticity, and clarity required to address supply chain challenges.