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Why Smart Contracts Are Needed to Coordinate the Process Steps in a Supply Chain

A supply chain is a system of organizations, people, activities, information, and resources involved in moving a product or service from supplier to customer (Source: supplychaincanada.org). In commerce, complex supply chains require sophisticated management mechanisms. In this article, we explore wh smart contracts are needed to simplify the process of managing a supply chain. The Supply Chain Management…

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Obstacles to Warehouse Efficiency in the Manufacturing Industry

In today’s globalized industrial landscape, it is as important as ever for warehouses to be as efficient as possible. However, there are several factors that warehouses struggle with in terms of maximizing their efficiency. In many ways, blockchain technology can help, particularly with boosting inventory accuracy, increasing supply chain visibility, and making manufacturers more responsive…

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Protection of Intellectual Capital and Property Rights

Intellectual capital is the intangible value of a business, covering its people (human capital), the value relating to its relationships (relational capital), and everything that is left when the employees go home (structural capital), of which intellectual property (IP) is but one component. ( Wikipedia). Intellectual property right is a right held by a person or company…

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Using Blockchain to Legally Prove Ownership and Existence of Assets

Any entrepreneur can come up with a great product idea. But does any entrepreneur have the financial resources and legal clout to protect their idea if it does gain traction in a large market? Hardly.   While innovative ideas are a dime and dozen, those that do gain traction get the attention of bigger companies with…

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Asset Traceability and Tracking Using Smart Contracts

Smart contracts have features that can be leveraged for a wide range of vital automated processes. Beside the hundreds of applications of smart contracts, asset traceability is a unique feature of this blockchain technology. We shall explore asset traceability with smart contract deployments for industrial purposes. Blockchain-based Smart contract powered Asset Tracing Blockchain technology has…

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How Blockchain Can Help Businesses Respond Quickly to Consumer Demand

Companies tend to be reactive with inventory planning and responding to consumer demand. Even while they could “guess” that demand would spike during the holiday season, they would have no way of knowing how much demand would rise and fall without visibility into their supply chains. This almost always leads to supply and demand imbalances.…

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Industry 4.0 Applications for the Next Generation of Manufacturing

As one of the oldest industries in human history, manufacturing is the most vital component of modern day commerce. With the advances in cyber-physical systems, traditional manufacturing techniques and old business models are being phased out. Part of Industry 4.0 is a new ecosystem harnessing new technologies to create smarter factories that revolutionize the manufacturing…

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How Blockchain-Based Manufacturing Protocols Increase End-to-End Visibility

Lack of Supply Chain Visibility Costs Manufacturers Millions Without seeing how products, parts, and materials move through the supply chain in real-time, small and seemingly innocuous errors may potentially compound into disastrous mistakes as they propagate through the supply chain.   One of the first signs of something going wrong often comes in the form…

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ROI Dialog – Welcome to Cryptonia

Blockchain is here to stay because it offers many advantages to supply chain management and end-to-end logistics. For one, data stored in a blockchain is tamper-proof and thus cannot be forged. Smart contracts, one feature of blockchain technology, can automatically execute the process steps in a supply chain. From raw materials to finished goods at…

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Manufacturing and logistics in the age of blockchain

CERTAINTY 1: Blockchain will not be a footnote in the history of technology In many fields, blockchain technology is still in its infancy. However, due to the degree of adoption blockchain has gotten within the financial sector thus far, one thing is certain: blockchain is here to stay. Particularly in supply chain management and production processes, blockchain offers advantages that need to be implemented in many of the systems. Especially when hedging transactions, blockchain has two advantages ensuring that it is attractive to the industry…

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