Categories: Ethereum

Blockchain Is Transforming the Retail Supply Chain

Click here to view original web page at
Retailers worldwide are now applying blockchain technology to their supply chains to verify the origin and traceability of goods, among other uses.

Of all the areas in which blockchain applies to commerce, supply chain applications are the furthest along in development and usage. This stems primarily from the database-like features of blockchain combined with traceability and security benefits, which are a natural fit for reducing costs as well as ensuring that a company fulfills its brand promise for product sourcing or quality.

Most of the blockchain projects in the retail supply chain space are “private.” Companies are building their own blockchains for themselves and their supply chain partners and are otherwise not available for others to use or copy.

Public Blockchains?

To date, mostly large retailers have developed these projects due to costs. For example, Walmart uses blockchain technology to track food products through the entire supply chain to identify the source of food-borne diseases and take quick action. Target recently announced its blockchain initiative, called ConsenSource, to certify and audit suppliers for the company’s paper manufacturing.

Both retailers have not only the resources to build a blockchain from scratch but also the power to ensure adoption from their supply chain partners. But other large retailers, supported by supply chain consultants such as Deloitte and PricewaterhouseCoopers, are looking to the blockchain to improve the financial viability and lower the risk of their supply chains.

Moreover, initiatives are underway to develop public supply-chain blockchains. Notably, Ernst & Young, another consultant, placed its new Nightfall software — based on the Ethereum blockchain — in the public domain so that any company can use it without investing development resources. Also, dozens of startups are using the blockchain to tackle different aspects of the supply chain, especially in the following areas.

  • Origin. Tracking the source of products and following them through the supply chain is critical for many retail merchants. Whether for health and safety reasons or fair trade and sustainability, blockchain provides traceability so that merchants and their consumers know where the products come from. Blockchain projects focused on this area include Provenance, ShipChain, DORÆ, Modum, and Bext360.
  • Data Quality. Supply chains are notoriously murky, with systems that often do not communicate and with large incentives for suppliers to inflate their performance. Blockchain helps to solve these challenges by exposing the full supply chain and making it much more difficult to falsify. Better supply chain data is being driven by blockchain projects such as Eximchain, OriginTrail, Peer Ledger, and FR8 Network.
  • Finance. Supply chain companies frequently operate on low margins with high capital needs. Thus the need for supply chain financing is significant. Blockchain streamlines financing by factoring receivables to, for example, meet working capital needs or by better managing escrow. Companies that are changing the nature of supply chain financing through blockchain include Zero1 Capital, CargoCoin, and CargoX.

Transforming Supply Chain

In short, blockchain is transforming the supply chain. An organization called Blockchain in Transport Alliance, with nearly 500 members, is dedicated to enabling and encouraging the process.

Retailers may find that blockchain can reduce their supply chain costs, locate financing, and ensure the quality and traceability of their products. An investment now while in the early stages could pay huge dividends.


Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Published by

Recent Posts

Wealth manager launches world-first bitcoin yield fund

A US-based wealth manager has claimed an industry milestone with the launch of the first cryptocurrency derivatives-based yield fund on… Read More

5 hours ago

CME Group To Launch Bitcoin Options In Early 2020, Cites Client Demand

CME Group Inc (NASDAQ: CME ) announced Friday that it will launch options on its Bitcoin futures contracts in the… Read More

5 hours ago

Nigerian Rocks Crypto World By Returning NGN 28.8 Mn Worth Of Bitcoin That Was Sent To Him In Error

Here’s the latest on today’s edition of “Wait, What?!”; A Nigerian man woke up one day to find that NGN… Read More

5 hours ago

Bakkt: A Big Boost For Bitcoin (BTC) or Will It Flop?

Share Tweet Send Share The launch of the largest institutional bitcoin product of the year is finally upon us. Can… Read More

5 hours ago

Bitcoin (BTC) Metrics Pointing to Bullish Returns

Share Tweet Send Share Many analysts over the years have said that bitcoin is a speculative bubble, comparing it to… Read More

5 hours ago

Bitcoin Sheds $10,000 Support Again Ahead of Bakkt Launch

Ahead of the launch of Bakkt’s Bitcoin (BTC) futures, bears have continued to assert control over the cryptocurrency market. Ouch.As… Read More

11 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More