You may primarily know Blockchain as the underlying technology for cryptocurrencies such as Bitcoin. But the Blockchain technology is being used in several other areas and may even be the digital collaboration platform of the future.
Blockchain is a chain of blocks. Each block is cryptographically encoded information which is considered impossible to hack and is therefore secure. The information thus lies in a chain of blocks distributed in a network of computers. This way, we can be sure that we see the same data. Hereby, you have a digital platform that can safely and easily secure the exchange of transactions and information for the benefit of all players across a supply or logistics chain.
It allows for total transparency across customer and supplier relationships and in some industries such as blockchain is often referred to as the next generation of technologies to support logistics and supply chains, where different parties can more effectively and securely exchange information and trace back in the supply chain. In fact, you will be able to follow any link back to the raw materials and check if the suppliers comply with the guidelines.
In the food sector, blockchain is expected to be able to create documentation, information and transparency about the origin of the food, thus ensuring the high food safety and quality. This way, the consumer can get certainty about the food's journey from producer to retail store and, for example, scan a QR code in a retail store and see the exact time and place and travel from "land to table". Traceability, food safety and blue stamping of guaranteed Danish quality.
When starting to use Blockchain, it is important to define the purpose of the application, see what data consumers there are, what data providers there are and whether or not data should be public or private. Below is an example of how ProActive can help your business get started with Blockchain:
Start by establishing your digital supply chain on Microsoft's widespread Azure Blockchain platform and then contact ProActive to find out about the opportunities in your industry. Blockchain solutions apply to virtually every corner of business community, from food, transportation / logistics to life science and the finance industry.