VAIBHAV VOHRA

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.