U.S., July 6 -- The supply chain of today is complex and consists of many players worldwide.
An increasing number of supply chains face challenges that have substantial implications in terms of cost, speed and product quality. The most pressing supply chain hurdles, despite years of efforts and significant investments, are a lack of transparency due to inconsistent or even unavailable data, high proportion of manual (paper) work, lack of interoperability and limited information on the product's lifecycle or transport history. In many cases, blockchain applications can counter these inefficiencies and create a new value.
Blockchain was initially introduced commercially in the financial services industry to make trade/claims settlements an...