Blockchain in the supply chain

Blockchain in the supply chain – what is it?

Blockchain is a decentralized technology that enables secure and transparent supply chain management. Unlike traditional systems that rely on central databases, blockchain works as a distributed ledger, where data is recorded in blocks and chronologically linked into a chain. Each transaction, regardless of its type, is verified by a network of users, ensuring high data quality and security.

Key features of blockchain technology in the context of the supply chain:

Security: thanks to the use of cryptography, data in the blockchain is protected from unauthorized access and manipulation. Each block contains a unique code (hash) and the data of the previous block, making the system resistant to forgery.
Transparency: blockchain allows supply chain participants to track every stage of the production and delivery of goods. Information about the origin of products, their processing and transportation is available to all authorized parties, increasing trust and accountability in business relationships.
Tracking and monitoring: with real-time transaction recording functionality, companies can effectively monitor the movement of goods, allowing them to quickly identify and resolve issues such as delivery delays or product damage.
Eliminating intermediaries: thanks to decentralization, blockchain allows direct exchange of information between supply chain participants, which reduces costs associated with intermediaries and speeds up transaction processes.
Data management: the use of blockchain technology in the supply chain enables better integration of data from different sources. This allows companies to make more informed decisions, optimize processes and improve operational efficiency.