Blockchain adds security link to supply chain management
Being able to track the whereabouts of goods on a map is great, but the deeper issues in supply chain management are trust and provenance. Customers need to trust that the goods received match the expectations of their order. The origins of those materials are important too. You might not realize it as you bite into a tuna sandwich or drive around in future electric vehicles, but blockchain could be making a positive contribution in both scenarios. UK organization Provenance, which enables supply chain transparency, has demonstrated the use of blockchain to confirm responsible tuna sourcing in Indonesia. European legislation will require battery makers to demonstrate the origins of energy pack constituents – for example, to show that human rights haven’t been violated during mining. In 2019, the Ford Motor Company, Huayou Cobalt, IBM, LG Chem, and RCS Global announced plans to use blockchain technology to trace and validate ethically sourced minerals. Requirements on producers also take into account the circular economy, as battery passports should confirm required levels of recycled materials.
Full opinion : Blockchain adds security link to supply chain management.