Technology

3 Reasons Why Blockchain is the Future of Supply Chain

The term blockchain has often been associated with cryptocurrencies, especially Bitcoin and Ethereum. Blockchain, in fact, has been the key driver behind the rise of cryptocurrency because of its basic features of the decentralized approach, enhanced security, and immutable ledgers. However, these features have made blockchain extremely important and crucial for various industries and sectors. Supply chain management is one such sector that can truly harness blockchain technology to its fullest potential. Apart from helping to improve the transparency in supply chains, blockchain has the potential to increase a business’s profitability by reducing the associated administrative costs.

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