5 blockchain applications for the supply chain
Blockchain is more than cryptocurrency
Blockchain: it’s hard not to think back to the crypto currency hype that seduced many to invest in virtual coins just a few years ago. But the blockchain technology is so much more than Bitcoins. This white paper introduces the technology that made Bitcoins possible and describes 5 practical applications that are sure to add value to the supply chain.
More than just a hype
To many companies blockchain is still a thing of the future. But make no mistake, it’s closer than you think! Quistor’s innovation department has been developing blockchain solutions for several years and they are convinced it’s more than just a passing fad. Just as the cloud was futuristic only 5 years ago, blockchain is on the eve of worldwide breakthrough and success.
So, what exactly is blockchain? To make it simple: a decentralized, distributed database, stored on connected computers called nodes. Just think of it as a ledger or an Excel-sheet shared with the entire world. Everybody who joins gets a copy of the ledger and can access all the information within. Is there an addition to the ledger, then all the copies are updated. It’s impossible to change stored transactions afterwards, only adding transactions is possible. Thus, making fraud virtually impossible.
5 practical blockchain applications
How can blockchain make logistics more efficient? What are smart contracts and how will blockchain effect notarial work? Download this white paper and learn more!