Blockchain is an integral part of our future, but it’s also intimidating for those who are still getting to know the technology. It has come to our attention that there is decidedly an audience for a more basic approach to Blockchain, cryptocurrency, the Metaverse, Web 3.0, and related topics.
To that end, we’re publishing a “Back to Basics” series that will hopefully be of use to our readers. The first entry, “Blockchain Explained,” can be found here. This is the third entry, explaining how blockchain technology can help your business. Keep in mind that what we’re presenting isn’t unlearnable; it only requires patience. At one point, everyone was a beginner.
So now that we have a basic grasp on what blockchain tech is, how can it help your business?
1)Blockchain is revolutionizing supply chain technology
Anyone who’s worked in an industry that receives products from more than one supplier (which encompasses about 75% of the industries on the planet), knows how difficult it can be to track and receive inventory. A supplier’s inventory system isn’t the same as the trucking company’s system, which isn’t the same as your system. It can take hours or days, countless phone calls, and plenty of yelling to track down a shipment. And inevitably, inventory invoices wind up in a pile on someone’s desk, covered in stains of indeterminate origin. It’s been estimated that paperwork and paperwork processing results in nearly 50% of the cost of shipping.
Blockchain technology changes all of that. With a private blockchain network, a trucking company can give both vendors and retailers real-time access to inventory status, shipping location, and any delays, overages or shortages. You’ll also know where a product originated, whether it’s a genuine item or a forgery, and have easy access to any recalled product.
Continue reading:
https://www.benzinga.com/markets/cryptocurrency/22/02/25765985/jrod-blockchain-for-your-business-back-to-basics
To that end, we’re publishing a “Back to Basics” series that will hopefully be of use to our readers. The first entry, “Blockchain Explained,” can be found here. This is the third entry, explaining how blockchain technology can help your business. Keep in mind that what we’re presenting isn’t unlearnable; it only requires patience. At one point, everyone was a beginner.
So now that we have a basic grasp on what blockchain tech is, how can it help your business?
1)Blockchain is revolutionizing supply chain technology
Anyone who’s worked in an industry that receives products from more than one supplier (which encompasses about 75% of the industries on the planet), knows how difficult it can be to track and receive inventory. A supplier’s inventory system isn’t the same as the trucking company’s system, which isn’t the same as your system. It can take hours or days, countless phone calls, and plenty of yelling to track down a shipment. And inevitably, inventory invoices wind up in a pile on someone’s desk, covered in stains of indeterminate origin. It’s been estimated that paperwork and paperwork processing results in nearly 50% of the cost of shipping.
Blockchain technology changes all of that. With a private blockchain network, a trucking company can give both vendors and retailers real-time access to inventory status, shipping location, and any delays, overages or shortages. You’ll also know where a product originated, whether it’s a genuine item or a forgery, and have easy access to any recalled product.
Continue reading:
https://www.benzinga.com/markets/cryptocurrency/22/02/25765985/jrod-blockchain-for-your-business-back-to-basics
