Another day, another report on blockchain, but this time away from crypto.
The advantage of blockhain is that it leaves a permanent trace which is easily available for checking by third parties even... This has advantages for currency but also for tracking ownership or provenance of products.
It does it much faster and the first use of blockhain for a letter of credit backing shipment is just the start of how the transport of goods industry is being deeply changed by the technology.
Meanwhile from the food industry to car manufacturers conscious of the origin of their products or components (for health or corporate responsibility reasons), blockchain can also help trace and prove origin, enabling faster reply in case of a crisis but also to prove that products are ethical.
So, for those who followed earlier notes, there is also good news for Brenda...
consumers are demanding more transparency. “Where [blockchain] has been adopted by businesses like food and logistics, that’s where businesses can use it to improve the bottom line and differentiate themselves,”
The content above was originally posted on CMS Digitalbytes - CMS lawyers sharing comment and commentary on all things tech.