The Benefits of Blockchain: Fact or Wishful Thinking?
Blockchain is still a largely unproven innovation in the supply chain, but it’s also one that companies can’t afford to ignore.
Blockchain is the new buzzword in supply chain circles. Unfortunately, there are many examples of much-hyped innovations that promised to transform supply chains overnight, only to peter out or take much longer to gain traction than originally claimed.
Is blockchain technology any different? We are still early in the process of answering that question.
The level of interest and investment in this digital tracking technology suggests that it’s not going away any time soon. The financial community is probably the leader in blockchain tests, spending more than $1 billion so far.
Results from one of the more high-profile tests were released in late November. That’s when Goldman Sachs, JPMorgan, blockchain startup Axoni and others concluded a six-month test of blockchain to track equity swaps contracts after they were executed. That means all amendments, deal terminations, stock splits and dividends were tracked by blockchain for those six months.
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Blockchain is the new buzzword in supply chain circles. Unfortunately, there are many examples of much-hyped innovations that promised to transform supply chains overnight, only to peter out or take much longer to gain traction than originally claimed.
Is blockchain technology any different? We are still early in the process of answering that question.
The level of interest and investment in this digital tracking technology suggests that it’s not going away any time soon. The financial community is probably the leader in blockchain tests, spending more than $1 billion so far.
Results from one of the more high-profile tests were released in late November. That’s when Goldman Sachs, JPMorgan, blockchain startup Axoni and others concluded a six-month test of blockchain to track equity swaps contracts after they were executed. That means all amendments, deal terminations, stock splits and dividends were tracked by blockchain for those six months.
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