With dozens of cryptocurrencies making their ICO, it is no surprise that blockchain is getting more and more media coverage. What was once a purely financial technology, it is an append-only ledger after all, has shown some surprisingly expansive potential into other industries with the release of add-ons like smart contracts and tokenisation. In manufacturing, an immutable data trail can have value in a variety of functions ranging from supply chain management and logistics to production. With sensors becoming an integrated part of every manufacturing plant, collecting, understanding, manipulating and leveraging that data holds tremendous potential value for those on the production side of the supply chain.
It All Starts with the Supply Chain
Provenance and Everledger are both great examples of what blockchain can do for supply chain management. With Provenance, you get a detailed transaction record that tracks every major event in the production process from when the pieces roll out on the assembly line to the final delivery to a customer. By showing the story behind the production, consumers get a product they can trust that is exactly as advertised. Worried about fair trade? Provenance makes it easy to verify fair trade statements, organic certifications and much more.
Everledger focuses …