Summary of Why Blockchain is Beneficial in Supply Chain

1 min readOct 9, 2021

Blockchain is a distributed and decentralised ledger system.
enable unlimited and anonymous parties to transact privately and securely with one another without a central intermediary
protect their business operations against malicious actors while supporting better performance.
Conventional ledger system(ERP) is not able to record all transactions (information flow, inventory flow, financial flow) from multiple sources(bank, supplier, retailer, etc.) in one place.
Manual audit is required to validate all transactions, which potentially contain glitch/validation/execution errors.
Blockchain helps to store all the records. Nearly no one could glitch the transaction data. Hence, consensus and audit are done automagically.
Each firm can still remain its existing ERP system, but pushing the transaction records to the blockchain.
Enhance traceability across companies(e.g: drug inventory, return/track faulty product)
Increase efficiency and decrease disruption in the supply chain since all the records are transparent and optimal moves can be made.

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