Supply chain

Supply chain refers to using blockchain technology to improve transparency, traceability, and efficiency in conventional supply management. Cryptocurrencies address challenges like counterfeiting, opaque tracking, and inefficient data sharing. Implementing crypto-based supply chain solutions is a developing field with diverse projects exploring different strategies.

• Traceability: it is achieved by recording each step on an unchangeable blockchain ledger, mitigating counterfeit risks.
• Transparency: it is facilitated through decentralized (DeFi) platforms, enabling real-time data sharing among stakeholders.
• Efficiency: smart contracts automate processes and ensure contract compliance.
• Tokenization: it allows assets like inventory and logistics services to be represented as tokens, simplifying ownership and asset tracking. Cryptocurrencies also introduce innovative supply chain financing options like peer-to-peer lending and trade finance.