A blockchain supply chain can allow participants to more accurately manage their supply chain in order to document their costs, date, location , quality, certification, and other relevant details.

The availability of this knowledge in blockchain will increase material supply chain traceability, lower losses from counterfeit and grey markets, enhance visibility and comply with outsourcing contract production and potentially boost the role of a company as a responsible manufacturing chief.

-------------------------------------------------------------------------------------------------

1- Recent Developments

Bitcoin, the earliest blockchain implementation, led to widespread blockchain experiments, particularly in the financial services industry.

In 2015, the Nasdaq and OMX Group Inc. collaborated on pilot and blockchain technology for Nasdaq 's private market shares with a blockchain startup, chain.

Visa Europe has all announced that they are operating on their own demonstration concepts using blockchain, as have the Commonwealth Bank of Australia, the RBS and many of the British main-street banks.

With the advertising acquired by blockchain, major businesses and startups pursue the technology beyond the financial services field.

Many businesses are now working with blockchain technologies to meet a umber of requirements.

A six months pilot to monitor responsible tuna sourcing in Indonesia has recently been completed by the Provenience, a start-up supply chain transparency enterprise.

Startup began in 2014, Monegraph, use blockchain to protect digital media rights such as video clips or brand content and to allow for revenue shares between media producers, publishers and distributors. tool for sharing digital media rights.

Skuchain creates B2B-based trading and supply chain finance products for a global trading finance market of 18 trillion dollars comprising numerously distributors, customers, distribution manufacturers, banks, customs, and third parties.

The supply chain's powered Blockchain technologies would have the ability to provide massive business value

through improved supply chain accountability, risk reduction, and productivity improvements and overall supply chain management.

-------------------------------------------------------------------------------------------------

2- Driving Value in the Supply Chain

Blockchain can offer greater transparency in the supply chain as well as lower cost and risk in the supply chain. In particular , the following main advantages

can be accomplished with blockchain supply chain innovations:

2.1- Primary Potential Benefits

-- Improve the traceability of supply chain products to ensure compliance with corporate standards.

-- Higher counterfeit / grey market losses.

-- Improve visibility and compliance with the production of outsourced contracts.

-- Minimize administrative and paperwork costs.

2.2- Secondary Potential Benefits

-- Improve the credibility of companies through the disclosure of goods' materials.

-- Improve lending and public faith of the shared data.

-- Reduce possible danger to public relations from exploitation of the supply chain.

-- Stakeholder participation.

Blockchain will render end of supply chain monitoring more transparent and accurate: companies will digitize the physical assets and build the decentralized immutable track of all transactions, allowing assets to be tracked by the end user from manufacture to distribution or usage. This increased accountability in the supply chain gives both corporations and customers greater visibility.

Blockchain will contribute to improved transparency of the supply chain

to reduce fraud against high-quality products like diamonds and medicines.

Blockchain may help businesses understand how each subcontractor manages ingredients and finished goods and minimize losses in profit from

counterfeit and grey marketing, along with increase trust in market users by decreasing or eliminating the impact of counterfeit products.

In addition, corporations can retain greater control over the production of outsourced contracts. Blockchain allows access to the same information to all parties within a respective supply chain, which can minimize communication or data transmission errors. Data validation can be spent less time and products and services can be delivered more – enhancing efficiency , reducing costs or both.

-------------------------------------------------------------------------------------------------

3- Moving forward

As blockchain gains traction, businesses can continue to watch players who started experimenting with blockchain in their industry. Blockchain greatly benefits from the network impact; it's easier for anyone to leap and get the advantages after a critical mass gathers in a supply chain. Companies may also take care of the timing for the production of a blockhain prototype with their supply chain players and competitors.

For more information on blockchain-based supply chain innovation and case studies of the benefits that businesses are already experiencing, download our full report on future developments in supply chain management, use blockchain in order to accelerate innovation in the supply chain and contact us to find out how blockchain can boost your and your supply chain.

Perhaps join our research project supply chain finance in the coffee supply chain case study in colombia and theNetherlands.... we can use your blockcha expertise

Jan H Jansen since i am new in this field getting my hands into an extra research will be very good what can i do to enter

About your blockchain. Expertise might be added value for our project