Monday, March 5, 2018

THOUGHTS ON BLOCKCHAIN FOR SUPPLY CHAIN

Blockchain, thanks to bitcoin, has been around for 10 years.  It is not new.  That is has that age and is still in a hype phase says that there is more to it--devil in the details.  Supply chain benefits are a current topic with blockchain.  And I am very interested in it for the international/global supply chain--the most complex supply chain.  Details on how it would work for each of the
different Incoterms, smart contracts and ocean shipping contract, the large number of stakeholders and players in a international trade and its logistics.  What we have is a financial distributed ledger (and who does not love accounting) and how to integrate and elevate it into the product supply chain.  So far, blockchain has been a peer-to-peer, single-use, limited application.  A need is to get supply chain domain expertise into the issue to advance it.