What role does blockchain play in supply chain solutions? 🔊
In supply chain solutions, blockchain plays a crucial role by providing a decentralized and transparent ledger for recording transactions. This technology enables all parties involved in the supply chain, from manufacturers to retailers, to access the same information securely. Its key benefits include enhancing traceability, improving accountability, and reducing fraud. By using blockchain, organizations can track products through their journey from origin to consumer, ensuring authenticity and compliance while streamlining processes through automated contracts known as smart contracts.
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