Blockchain technology is still relatively new to most people. If you ask the random person walking down the street what the blockchain is, they’ll likely look at you like you’re speaking a foreign language. The blockchain is the technology that powers cryptocurrencies like Bitcoin. A lot of people know what Bitcoin is, but still don’t know much at all about the blockchain that powers it.
That will change in due time because the blockchain technology has the power to change everything. One of the first things it looks to disrupt is supply chain management. Supply chain management relies on a system that has been outdated for years and has become unreliable and practically useless in today’s world. It uses a system that still relies on paper records and dozens of middlemen. Let’s take a look at the supply chain and how the blockchain technology is destined to revolutionize it. Lets unserstand how can blockchain technology fix the supply chain crisis:
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