Whenever I talk about Blockchain to most people, I am almost guaranteed to get two responses. Folks will either confuse Blockchain with Bitcoin or claim that Blockchain is a solution looking for a problem.
Well, thanks to this infographic, the latter response is no longer an issue. 🙂
How can blockchain technology help improve the supply chain?
All physical products must take a journey from the factory to the consumer and this journey is called the supply chain. Unfortunately, the path to the consumer isn’t straightforward, there are sometimes dozens of intermediaries involved in this process.
That includes quality assurance, drivers, procurement officers, etc. Blockchain acts as an immutable store of data, and removes the need for one or more third parties. It can help save both businesses and consumers time and money in this case. In this video Siraj Raval demonstrates a solidity app that tracks asset, talk about a real world example called SyncFab, and discuss the different ways blockchain can affect the supply chain.
I first heard of Ripple while watching Bloomberg TV, where the CEO of the company was touting the cryptocurrency and its rapid acceptance by the financial establishment. That made me wonder: how could a company “own” a cryptocurrency? Wouldn’t that make it centralized? Isn’t that antithetical to cyrptocurrencies?
Fortunately, Siraj Raval comes to the rescue with a great explainer video on Ripple