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10 Blockchain Benefits in Supply Chain

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The use of blockchain technology is being adopted by more and more industries.

Thus, many companies (many of them known) are already using it in order to offer greater transparency and security to their customers, as well as to have greater control over the supply chain.

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10 Blockchain Benefits in Supply Chain

  1. 1. 10 BLOCKCHAIN BENEFITS IN SUPPLY CHAIN www.chaingotech.com
  2. 2. WHAT IS BLOCKCHAIN? A BRIEF REVIEW... chainGO
  3. 3. Blockchain�utilizes a distributed, not centralized, database structure. Therefore, acting like a digital notary, it records all transactions in linear order in an immutable and secure way. Some advantages offered by�blockchain technology�are: verified transactions, transparency and timestamp of events.
  4. 4. IN WHICH INDUSTRIES IS IT BEING USED? EXAMPLES FINANCE SUPPLY CHAIN HEALTH CIBERSECURITY FOOD LUXURY INSURANCES REAL STATE chainGO
  5. 5. IN WHICH INDUSTRIES IS IT BEING USED? EXAMPLES FINANCE SUPPLY CHAIN HEALTH CIBERSECURITY FOOD LUXURY INSURANCES REAL STATE chainGO
  6. 6. 10 BLOCKCHAIN BENEFITS IN SUPPLY CHAIN chainGO
  7. 7. TRANSPARENCY Since Blockchain is a shared database,�all the information is available to all agents involved in the value chain. This is one of the most important characteristics, since demonstrating authenticity and transparency is essential in the world of consumer products and distribution companies, especially if the products or merchandise contains a high value. 1 chainGO
  8. 8. TRANSPARENCY TRACEABILITY Thanks to the transparency that the blockchain provides to the value chain, it is possible to know the origin of the goods or products, and therefore, it is possible to follow its unique course in its journey through the value chain. 2 chainGO
  9. 9. SECURITY Blockchain encrypts files or "blocks" of data, structured in such a way that a string is formed. This means that each block contains identification data and a link to the previous and next blocks. 3 chainGO
  10. 10. TIMESTAMP OF EVENTS The timestamp shows that the blocks are connected in chronological order. And thanks to this, it can be checked when and what has happened in the blockchain. We can say that the Timestamp plays the role of notary. 4
  11. 11. VERIFIED TRANSACTIONS 5 chainGO Since in Blockchain, although new transactions can be added, the old ones cannot be eliminated, the result is a verifiable record and permanence of the transactions (and their information). The verification of the transactions is immediate, since, due to the existence of several nodes, the data is stored and replicated in each one of them. Even if a change is registered in one of the nodes, it will be reflected in the rest of the nodes.
  12. 12. DETERS FRAUD A main advantage provided by blockchain technology is the shared record and immutability of the information, since the transactions have a time stamp and are verified by a distributed network of servers. This allows for a kind of real-time information auditing process. Thus, it is almost impossible for there to be a case of fraud in a transaction. 6 chainGO
  13. 13. SMART CONTRACTS 7 Smart contracts aim to offer greater control than traditional contracts and reduce the costs associated with contracting. Thus, it consists of a software program that ensures compliance and executes the registered agreements between several parties. It detects pre- programmed conditions and automatically executes the corresponding contractual clauses. chainGO
  14. 14. EFFICIENCY REAL TIME MANAGEMENT OF FLOWS TIME DEDICATED TO EACH TRANSACTION HUMAN ERRORS 8 DELAYS AND CARGO LOSSES
  15. 15. COST REDUCTION In the freight industry, approximately 20% of logistics costs are associated with delays and loss of goods. Thanks to the blockchain, and therefore, thanks to all the benefits mentioned above, the reduction of these costs is very significant (elimination of bureaucratic costs, costs for delays, notary costs, costs for theft, human error costs, etc). 9 chainGO
  16. 16. BRAND IMAGE Today, being one of the companies that uses blockchain technology in its supply chain, reflects all the benefits mentioned. This reinforces the brand image, transmitting security and transparency, both to the agents involved in the process, as well as to the final customer. 10
  17. 17. EXAMPLE OF A BLOCKCHAIN SOLUTION FOR THE SUPPLY CHAIN
  18. 18. ChainGO Freight is an online platform to manage and control all information and documentation related to logistics processes in the simplest, fastest and safest way on the market. Using for it, blockchain technology, achieving with it, all the benefits metioned before.
  19. 19. www.chaingotech.com @ChaingoTech CHAINGOTECH

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