Bitprotos: Blockchain in Supply Chain

Blockchain Solution In Supply Chain

Blockchain technology can replace the traditional supply chain industry with advanced features to enable more transparent and error-free traceability. It helps in keeping track of all physical assets in a digital format. This information will get stored inside an immutable decentralized blockchain. It will have complete info about products from manufacturing to dispatch and delivery operation. In addition, a supply chain firm can reduce frauds, counterfeit products, improve product authenticity, and secure sensitive data using blockchain technology

Present supply chain companies have difficulties in accessing and utilizing a large pile of data. But, blockchain technology can overcome this issue and facilitate effortless data management. Blockchain gives a fast and cost-efficient product delivery along with enhanced product traceability. It allows the supply chain industry to perform smooth and easy traction of physical assets. Blockchain replaces slow manual processes, boosting traceability, and reducing supply chain transaction costs.

Do you wish to know more about blockchain industry solutions or blockchain supply chain solutions? Consult us!

Ask Us How

Blockchain Supply Chain Use Cases

Blockchain technology is capable of delivering enhanced product traceability, eliminating frauds, avoiding intermediaries, reducing transaction costs, faster transactions, etc. We are specialists in delivering the best blockchain supply chain use cases given below.

End-to-End Traceability

Blockchain helps in tracking the complete information about a product in all stages of a supply chain. Details of the product from raw material to finished product can be traced effortlessly. Once these data are collected, they will be stored in the blockchain.

Anti-Counterfeiting

This helps in ensuring the authenticity of the product and elevates customer satisfaction. Employing blockchain technology, we can easily track and avoid such illegal activities. Anyone can view the product’s originality using barcodes, QR codes, and other tools, the originality of the product.

Cross Border Transactions

Unlike traditional methods, smart contracts enable smooth and fast cross-border transactions for digital currencies. At the same time, blockchain secures these transactions and fastens the verification process without any intermediaries.

Logistics and Inventory Management

Blockchain technology eases the data management about transportation, storing, packaging, cargo handling, dispatch, and distribution of goods. Further, the supply chain industry can manage its inventory and keep track of supplies. It helps in knowing the demand and maintaining a proper inventory ware.

Product Safety

Blockchain technology guarantees the safety and trustworthiness of a product. Using blockchain, a supply chain industry can ensure the safety of food items, drugs/medical products, gadgets, appliances, and more. Thus, we can increase the customer satisfaction and trustability of a product.

Carbon Footprint

One of the drawbacks of digital currencies is the excess emission of carbon dioxide in the environment. We can trace and neutralize the carbon footprints using blockchain technology. Blockchain collects the co2 and converts it into tokens that can be exchanged for compensating the carbon footprint.

Benefits of blockchain in Supply Chain

Customer Engagement

Blockchain technology incorporated in the supply chain will benefit the consumer and can elevate customer satisfaction. Implementation of this technology will reduce risk, decrease counterfeit, and improve accuracy. Thus, the user base will become wide and the supply chain company can gain customers’ loyalty

Fast-Paced Payments

Blockchain implements smart contracts to facilitate smooth and fast transactions for digital currencies. Additionally, it encrypts these transactions and eases the verification process without any intermediates.

Reduced Complexity

Usual supply chain management strategies involve high complexity in managing data, inventory, transactions, shipping, and more. But, blockchain technology can reduce the intricacy of these processes by performing streamlined supply chain management.

Cost Reduction

Smart contracts bring out the faster and more efficient processes inside the blockchain. It saves time by triggering automation in most of the time-taking parts in the supply chain. Blockchain also reduces transaction costs by eliminating third parties.

Increased Traceability

Every function inside the supply chain from manufacturing to delivery can be traced easily using blockchain technology. As the data in the blockchain is immutable and transparent, users can obtain more authentic product information.

Elimination of Counterfeit products

Blockchain technology can eliminate fake products from the supply chain. Customers can easily scan the QR code using a smartphone to confirm the product's authenticity. In addition, it verifies the product data and stores it inside the decentralized ledger.

Supply chain business opportunities using dynamic blockchain technology

Supply chain industries make a great combo with blockchain technology as the latter helps in reducing the complexity involved in the supply chain. Find out the significant business opportunities of using blockchain technology in your business.

Reduced Frauds

Blockchain assures resistance to forgeries and provides authentication against counterfeit products. Customers can scan the integrated blockchain with RF identification to check the originality of the product.

Increased Revenue

Blockchain technology cuts down the intermediaries and saves transaction and verification costs, and administration costs. By replacing human staff with automation, the outcome will be more accurate and thus can boost the recurring gain.

Data management

Supply chain management demands high-level data administration. Blockchain can handle a mass amount of data efficiently and effortlessly. It reduces the massive paper works involved in this process by implementing smart contracts.

Visibility and Traceability

Blockchain technology has a transparent, traceable, immutable, and secure data management system. It ensures the proper live tracking of a product in all stages of the supply chain from raw material to finished goods. It also assures the timely movement of goods and helps in managing warehouse products.

What can we do for your business deliverables?

We provide supply chain businesses with the finest blockchain solutions with these valuable deliverables.

Documentation & MVP

We collect the requirements of the client and develop a blockchain strategy to follow. Then, we design a conceptual workflow of the business and create a blockchain model based on it. Finally, we construct a prototype model of the finished product.

Admin Console

Monitoring the real-time product movement in the supply chain is possible using the admin console. We make sure that the console has a user-friendly interface. During unexpected situations, the authority handling the console can interrupt and fix the issue.

Smart Contract Integration

Smart contracts are used to ensure accuracy, faster, cost-efficient data management in the supply chain. They reduce the transaction costs and completely eliminate the third parties.

DApp

We incorporate the best supply chain management strategies in the decentralized application to help both end-users and supply chain firms. The performance of this dApp will be tested in every step of the manufacturing process to ensure user-friendliness and high quality.

Crypto Payment Gateway

We build the most promising crypto payment gateway to facilitate manageable and safe crypto transactions. In addition to fiat payment methods, merchants can also receive crypto payments globally via the execution of this crypto gateway.

Support & Maintenance

We assist the supply chain company with professional blockchain application maintenance and support. With the implementation of the best methodologies in supply chain management, you can acquire high performance, portability, and scalability of the application.