Advertising & Marketing

The blockchain technology: Changing the world

Buying and selling a complicated process with many parties involved. Supply chain management is one of the most complicated and complex processes now. Why so? Because goods are produced in one part of the world but transported through many countries to a completely different part of the world. Right here, in transportation and tracking industry, one can see potential blockchain uses in businesses has to offer.

How does the blockchain work for industrial use? The blockchain technology can be compared with a huge record-book. You enter one record, then, based on it, you create one more record. After that, based on the previous two records, you create one more record. All records are interconnected. If you want to change the last one, all previous records should be changed accordingly.

Now, imagine for a while, that you are dealing not with a couple of records but with billions of them. If changing one or two records is not a complicated task, changing billions of records sounds already less realistic. It is possible theoretically; but in practice, so many resources will be needed that the changes become senseless.

Gold industry

Some customers, especially if those are big corporations, are interested in tracking gold down to its origin. It happens due to some reasons, but one of the main causes are humanitarian issues, such as the exploitation of small kids` labour for gold mining. Tracking gold back to its mining place would ensure that the gold is mined in official mines where they adhere to the valid rules and regulations. Therefore, in this particular case, it helps supply chain management by providing a reliable tracking method.

Diamond industry

When we speak about the blockchain uses in businesses, we cannot leave diamond mining out. The issues with diamond mining are similar to those that exist in the gold mining industry. The blockchain application itself would not do much, but the blockchain tracking would provide reliable information about diamond origins to a potential customer.

Retail clothes industry

The retail clothes industry undoubtedly has the biggest trading volumes, along with gold and diamond industry. And this is one more field where the blockchain uses in businesses would bring many advantages to clothes brands owners.

There are so many fake brands that some people prefer avoiding buying branded clothes at all in fear, that it might be fake. Others, on contrary, prefer buying fake items because they are much cheaper and looks similar to a favourite brand`s model. In both cases, brand owners bear huge losses. The blockchain technology would allow tracking an original item from its production place or even from the place where raw materials for It were purchased and to the final customer who will buy the product.

Conclusion

The blockchain technology is meant to change our lives completely. Old industries are going to change forever, new industries will be developed. The blockchain technology is becoming a new industry on its own! Do you want to know how to rely more on blockshipping? Click here to get more information on the blockchain. For more details, visit their website at: https://kinesis.money/en/guides/supply-chain-management-crypto-era/