Most of us know about how blockchain can serve as a potential watershed in visibility and security across supply networks – but thus far, few companies have bet their future on this largely untested platform.
In theory, blockchain can help solve problems that have long plagued supply chains. Specifically, these challenges include real-time traceability of goods and data accuracy, counterfeiting prevention, financing and contracts, and software that can handle the burgeoning workloads associated with worldwide trade and shipping, said Brice Achkir, distinguished engineer and senior director, Cisco Systems and SEMI Smart Manufacturing advisory council member.
While blockchain is not mature enough to be embraced as a proven supply chain business model yet, firms should still look to get their feet wet, Achkir told EBN. “It still makes sense to start phasing in the technology to the supply chain now to alleviate current inefficiencies and challenges around data, processes, finance and other problem areas,” Achkir told EBN.
However, as early adopters in the supply chain sector have discovered, there has been a dearth of startups rushing to fulfill this potentially lucrative need on a large scale. IBM, Deloitte Consulting, Microsoft, and other heavy hitter service firms have begun to offer some blockchain applications for supply chain management, but only a handful of startups have emerged as viable contenders.
Ahead of the almost inevitable wave of startups yet to be created for supply chain-related requirements, we found three companies that sparked our interest. They claim to offer what it takes to port your supply chain to blockchain as a way to solve many of the issues mentioned above.
Click on the image below to review a slideshow of these first-of-the-block organizations who have envisioned a future for blockchain and supply chain.