How Blockchain Reshapes Logistics & Supply Chain Management
In global commerce, logistics and supply chain management serve as the backbone, ensuring that goods move seamlessly from production to consumption. Blockchain technology, often hailed as the backbone of cryptocurrencies like Bitcoin, is essentially a decentralized and immutable ledger that records transactions across a network of computers. Unlike traditional databases, which are centralized and controlled by a single entity, it operates on a distributed network, where each participant (or node) maintains a copy of the ledger. Transactions are grouped into blocks, cryptographically linked in a sequential chain, hence the name blockchain. Key Features of Blockchain in Logistics and Supply Chain Management Transparency and Traceability: One of the most significant advantages is its ability to provide transparency and traceability throughout the supply chain. Every transaction recorded on the blockchain is time-stamped and cannot be altered retroactively, ensuring an immutable audi...