Supply Chain
Blockchain is already revolutionizing supply chain management with its characteristic ability to track huge amounts of data in real time in a way that is transparent, verifiable, and immutable. Ultimately, this leads to a supply chain environment that is less vulnerable to corruption and cuts out many additional procurement, transportation, inventory, and quality costs.
With a more traceable and efficient network, blockchain could make data-informed logistics much more powerful since goods can be tracked from the source through the global distribution system. Logistics data could be maintained and updated between organizations with much lower transaction costs. This could make ethical and environmentally responsible labor practices easier to enforce since even large businesses could be held accountable through the public blockchain. Additionally, insurance companies, banks and credit providers already have their eye on blockchain for financial capital flow management. To learn more about use cases for blockchain in supply chains, read IBM's brief write-up here. Blockchain is even being used to fight the blood diamond trade. |
Supply Chain for Nonprofits
- Blockchain could provide transparency and accountability in things like tracking donations.
- Blockchain's token market could be used to fundraise. Organizations like SupPorter, Inc. are making "Blockchain Enabled Donation Processing Systems" for faster and more transparent donating.
- NGOs can implement blockchain in several ways, like making digital payments via tokens or making exchanges between service users and providers more frictionless.
Cons
- Moving to a blockchain system would require a tech overhaul: to implement blockchain into their supply chain, organizations need to heavily invest in potentially a brand new technology system to that every part of the system can support the software and computing capabilities necessary to communicate with the rest of the system.
- Just like in issues with storing identity data on the blockchain, any sensitive information remains susceptible to security breaches and hackers at this stage of blockchain's evolution.