If you’ve heard of Bitcoin or Ethereum, you’ve heard what blockchain technology is capable of. Blockchain’s potential to alter whole industries has been toted for months now, but not fully realized by any means. However, the potential is far too large to ignore, particularly in the supply chain management (SCM) sector. SupplyPike’s first move toward embracing the technology was by launching Ship, the first freight marketplace to accept Bitcoin as payment. SupplyPike CEO Dan Sanker was among six blockchain experts recently interviewed by The Future of Everything.io about the role the technology will have in supply chain management.
Future of Everything’s Nick Hastreiter listed six qualities of blockchain that best apply to SCM:
Dan Sanker aptly answered this question by showing how blockchain could apply to (or replace) old-school technology like EDI.
“The blockchain is a perfect solution for a lot of supply chain issues. Imagine supply chain in a blockchain world. Shippers and carriers discover each other without intermediaries, execute smart contracts to define any requirements, pay each other with crypto instantly and without transaction fees or risks, and track load movements (from warehouses to transportation – even temperature changes, tampering, damages, etc). Retailers place orders on the chain instead of EDI – which is so old it was originally designed for the Berlin Airlift; they manage recalls of dangerous food recalls as they reverse the supply chain. All trading partners have access when they need it, have their modifications verified and confirmed – all on an honest, immutable ledger that nobody (and everybody) controls.”
You can read up on other expert takes from companies like JDA Software, Slync, and DLT Labs by visiting FutureOfEverything.io.
SupplyPike builds software to help retail suppliers fight deductions, meet compliance standards, and dig down to root cause issues in their supply chain.Visit their Website ➝