Supply Chain Revolution.
09 Oct 2019
Technology brings people together, making life easier for many and sometimes if nurtured to fruition can hold the potential to change the world. Advanced technology, while groundbreaking and exciting for some, can be frightening, allowing some projects to be overlooked due to their unconventionality.
Blockchain technology especially has been widely celebrated as an advanced and revolutionary technology, paving the way for its many uses. The most commonly researched blockchain technology flooding the market is supply chain traceability systems with statistics indicating 53% of all research from corporations going to these specific use cases within blockchain technology.
In an article listed “How blockchain is revolutionizing supply chain management”, it goes on to list the clear positives illuminating the flooding market of change.
“Blockchains give these supply chain networks the chance to create one shared truth without one all-powerful, centralized intermediary. Each participant has a copy of the ledger, and all transactions and movements are part of that ledger.” More to the story here
So why is blockchain technology so valuable in a world that is struggling to understand it’s ingenuity. The technology itself has limitless potential for all applications and while supply chain use cases are the bread and butter of a large percentage of development but it’s not the only case.
Corporations are seeing the technologies multipurpose uses as the budding rose that is blooming rapidly.
VeriDoc Global, in particular, has developed and implemented blockchain technology in several avenues allowing its supply chain technology to advance into many industries. Accompanied by patented QR code technology, the development of VeriDoc Globals blockchain technology and its finished software can change the way we operate forever.
In the article mentioned above, research showed the switch to a true blockchain network wouldn't just cut time and stress.
“It’s possible that cost savings just from reduced auditing could cover your entire blockchain investment — but you’re also getting so much more. In an increasingly globalized world, with the speed of business accelerating and data swirling all around us” more on the story here
The technology allows for VeriDoc Global to customize the storage of necessary information on a blockchain network and tailor permissions and access to any supplier or customer. All the information you could possibly need to be logged to that particular product. Tracking, traceability for product location assurances with GPS time and location stamps. Change of state technology in supplier transfers and any information about the class and features of the product you could possibly need.
Take the example of sending a simple express post letter overnight utilizing blockchain technology. Every step could be recorded automatically and without error. Utilizing multiple supply chains each step of the way could be recorded by using a simple QR code and any QR reader.
Try the technology for yourself. Scan the QR code in the image above. Download the free VeriDoc Global App from the Play or App store, you then scan VeriDoc Globals QR code and see how the solution works for yourself in real-time.
The patented QR code is the embedding of a QR code on an item with a unique digital hash inside the QR code. The hash holds information that is then placed on the blockchain network for security and authentication, combined with VeriDoc Globals superior patented QR code scanning technology, supply chain traceability systems are truly unlike any other.
With increasing popularity, it is important that the tracking and traceability system you choose is right for your company with some claims filtering through that corporations have advertised blockchain technology for supply chain integrations but what is provided is not on a truly a decentralized network or technically blockchain.
The World Economic Forum has provided guidelines on what to look for when choosing the right partner for your software integration, highlighting what truly makes legitimate blockchain technology.
And like all brilliant technology, everyone wants a piece of a growing pie as blockchain technology advances to become a necessity in conducting business.
Supply chains will eventually make the switch completely, with software integrations becoming easier every day to change over to the advanced and modern-day solutions, like blockchain which already work with existing databases.
With VeriDoc Global paving the way for true blockchain innovation, living up to the motto ‘changing the world one document at a time’. People will one day be able to access information more easily, with a simple scan anywhere at any time.
The future is bright.