Altcoins Talks - Cryptocurrency Forum

Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: VeryWellDone on August 24, 2020, 03:12:36 AM

Title: Blockchain helping supply chains get visibility through Symbol/NEM.
Post by: VeryWellDone on August 24, 2020, 03:12:36 AM
(https://i.imgur.com/OrtfbCc.png)

1. App allows device authorisation for scanning QR codes on products and geo-fencing for additional security. 

2. Each scan is then securely recorded on Symbol blockchain.

3. Sustainability metrics can then be presented in real time with tracked .data

A supply chain is a network between a company and its suppliers to produce and distribute a specific product to the final buyer. This network includes different activities, people, entities, information, and resources.

Can solutions that blockchain provide help us get more awareness, or can these be solved by a simple server database?
Title: Re: Blockchain helping supply chains get visibility through Symbol/NEM.
Post by: TomPluz on August 24, 2020, 04:48:27 AM
Innovating the supply chain of different products is one of the many ways that the blockchain technology can be put to practical use. This is quite critical especially that we have an influx of many very good counterfeits and low quality products on the market. Hopefully, the fake market which is so big in China can be curbed with the help of the blockchain technology. And hopefully many will be using the platform offered by Symbol/NEM.
Title: Re: Blockchain helping supply chains get visibility through Symbol/NEM.
Post by: Rollinginthedeep on August 24, 2020, 03:45:10 PM
A normal database needs a central authority that all of the different custodians and end consumer have to trust.

Title: Re: Blockchain helping supply chains get visibility through Symbol/NEM.
Post by: ansi on August 25, 2020, 01:39:08 PM
Quote from: VeryWellDone on August 24, 2020, 03:12:36 AM
Can solutions that blockchain provide help us get more awareness, or can these be solved by a simple server database?
The point of using blockchain in this specific niche of chain supply is to make sur nothing is changed once is written into the blokchcain, this luxury isn't there into the centralized servers or whatever behind it.
Nothing will beat blockchain technology man when it comes to authenticity of the transaction that can not be changed, which will give it more trust.
So yeah, Nem is doing great job into this matter.