Let’s face it. Our supply chain management (SCM) is broken and inefficient. It is also cumbersome, unnecessary and complicated.
Sometimes there is no transparency or traceability, and often there are no appropriate tools for contract management and enforcement.
Nor should we forget about audits, which are the most damaging part of the entire supply chain cycle.
I know how supply chain itself feels if you’re not familiar with it, so read this: Supply chain management on the blockchain.
Also watch this short video:
As you read and see in the article and video mentioned above, blockchain, along with other technologies, can make the entire supply chain process highly efficient.
Therefore, many blockchain-based projects in the cryptocurrency market are actually trying to bring together and combine technologies such as IoT, RFID, and blockchain. (Read Harsh’s thoughts on IoT and blockchain here.)
In this article, I’ll shed light on some of the most notable projects (more altcoins) that are trying to solve the serious problem of supply chain management. 6 Supply Chain Management Based Cryptos/Blockchains
Waltonchain was the first project launched in the field of supply chain management, combining the best of both the physical and digital world to create an efficient system. It uses RFID chips for IoT and combines it with the power of blockchain to achieve:
- Data Integrity for fair audits
It provides a main and sub-chain structure to connect various industries according to their needs. These chains are fed by Waltonchain coin (WTC). In this way, they have already partnered with 6 large companies. And the good thing is that they have their own chip technology that makes them independent in this competitive world.
It also provides efficient management, smart agriculture, smart medical care, smart food traceability, and smart art industry, etc. They’re moving into the future with their eyes.
2. Ambrosus – Food & Drug Supply Chain
Ambrosus started in late 2017 after Waltonchain to secure and make efficient another aspect of the market with an efficient supply chain through blockchain.
The Ambrosus protocol combines high-tech sensors, blockchain technology, and smart contracts to create a universally reliable, verifiable, and community-driven system to ensure quality and safety. & origins of food and medicinal products.
All of this happens through the Ambrosus protocol, which is powered by its native token Amber (AMB), which also interacts with smart contracts.
3. Modum – Pharmaceutical Supply Chain
Modum is another supply chain management solution on blockchain designed specifically for the pharmaceutical industry.
Modum is based in Switzerland and combines IoT sensors with blockchain technology to ensure data integrity in transactions involving physical medical products.
This can largely eliminate much-needed contract management, security and oversight issues for pharmaceutical products.
Modum sensors record the environmental conditions to which goods are exposed during transportation. When goods change ownership, the sensor data is verified according to predetermined conditions through a smart contract on the blockchain. The contract confirms that the conditions meet all the requirements set by the sender, customers or an organizer and triggers various actions: notifications to the sender and receiver, payment or release of goods. And all of this is fed by the Modum token on the Modum blockchain. (Source: Modum)
VeChain is another supply chain management blockchain that offers great opportunities to improve the supply chain management lifecycle in many ways.
But the good thing about this VeChain platform is that it doesn’t limit itself to a specific industry. The VeChain blockchain can have many use cases in the following industries:
- Cold Chain Logistics
- Medical & Healthcare
- Luxury & Fashion
Again, it is powered by IoT chips, sensors and blockchain technology to enable seamless integration of different jobs on the blockchain for SCM. One thing I love about them is that they’re pretty unique and aggressive in building great partnerships with the likes of PwC.
Buy VeChain (VEN) Tokens Now
WaBi’s blockchain for supply chain management prevents counterfeiting of products by using anti-counterfeiting tags on them. It has its own local token called WABI to feed the blockchain.
WaBi uses Walimai’s anti-counterfeiting RFID tag technology and combines it with blockchain.
The Walimai label is applied at a designated “starting point” throughout the supply chain. This connects the product to its digital representation in the cloud and includes:
- Encrypted unique ID
- Dynamic Code
- Geographic Data
Origin Trail is not just a blockchain. Instead, it is a blockchain protocol that is a blockchain agonist for supply chain management.
The Origin Trail protocol solves two critical problems in SCM – data fragmentation and centralization of data.
It does this with the help of the Original Trail Decentralized Network, which owns these layers and is further strengthened by (TRAC) tokens:
- Application tier
- ODN Network Layer
- ODN Data Layer
- Blockchain Layer
Watch this video to understand how it works.
Buy TRAC Tokens NowResult
Blockchain and cryptocurrencies have many uses in various industries and are not limited to payments or supply chain, etc.
However, its implementation and success will not happen overnight because any new technology takes time before it is adopted by the masses.
It also incorporates a learning curve before implementation, as with any new technology, so you’ll find many of the projects mentioned above in their early stages.
However, innovators have no plans to slow down before fully realizing the 4th industrial revolution by getting behind ‘blockchain’ technology.
Now it’s time to hear from you: What do you think about SCM on the blockchain? Do you know of other supply chain-based blockchain/crypto projects?
Looking forward to your comments below &# 128578;
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Here are a few other specific articles you should read to increase your knowledge of cryptocurrencies:
- A Look at the Best Decentralized Storage Networks (DSNs) & Tokens
- Detailed Analysis of QTUM Cryptocurrency – A Beginner’s Guide
- UBIQ Cryptocurrency: The Most Important Things Beginners Should Know
- Free Most Popular Blockchain & Cryptocurrency Courses/Certifications [Mega List]
- Top 10 Blockchain Startups from India – CoinSutra Picks
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