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Although we don’t pay much attention to it, the supply chain is one of the most integral parts of human life. It helps us to get clothes, food, and many little gadgets that we use on a routine basis. When the supply chain
When the supply chain turns out to be complicated, the value and origin of the products go less transparent. Few projects in the Blockchain industry are working on fixing the problem. Below we have listed a few of the active projects in the space:
Here is an Ethereum based project that works through proprietary IoT devices to deliver higher integrity to the system. It can be integrated into any market or industry that is more related to logistics or supply chain. Ambrosus is also capable enough to deal with the problems and errors associated with the current platform; as a result, it can eliminate many troubles in the supply chain while saving a huge amount of the related companies. There are four main elements of this supply chain platform: Anti-counterfeiting, quality assurance, logistics tracking, and supply chain optimization.
OriginTrail creates a process for sharing data over the supply chain so that businesses can enjoy easy access to information externally and internally as well. The application of OriginTrail project enhances the efficiency and accountability of the system while offering better transparency. Once it is implemented successfully, businesses can enjoy uninterrupted conversations overseas. People also believe that it is one of the most reliable off-chain decentralized pear to pear network that enables easy data retrieval, verification, transfers, and negotiation services.
VeChain makes use of smart contracts to keep track of inventory. It helps to tokenize the supply chain products by ensuring complete navigation via RFID labels. Note that, these labels provide a detailed history of every product right from the start point to the end. VeChain users are provided with direct access to the history of products, and they can view it anything through the supply chain. With VeChain, product manufacturers find it easier to share information with the consumers and venders. This 360-degree view leads to guaranteed satisfaction for the end-user.
It works almost the same as VeChain project by utilizing RFID tags; however, it is proven to be more useful for product kiosks, tracking inventory, and library systems as well. WaltonChain users can access detailed information about the location of the product, its owner, and other essential supply chain processes. It was originally founded in 2016, and this Chinese-Korean project basically combines RFID chips for hardware and Blockchain on software level leading to a new technology that is better known as Value Internet of Things (VIoT). With this project, it becomes easier for different parties to collaborate and develop trust in the supply chain process.
5. Modum (MOD)
It is a startup project that is designed to improve the overall process of the supply chain. Modum makes use of enhanced capabilities of blockchain and IoT technology while combining smart contracts and smart devices on a single platform. With Modum, users can avail real-time access to the supply chain data so that safe and damage-free shipment can be ensured.
6. Tael (WABI)
It is widely popular as WABI, and people prefer it more for its ability to provide solutions for consumer product authenticity. Tael simply adds some anti-counterfeit barcodes on supply chain products that can be scanned by consumers. With these secure QR codes, consumers can ensure that they are going to receive valid products without any damage during shipment. This supply chain product has gained more popularity in the lower regulated nations such as China. In case if the scanned information is different from the existing database, the manufacturers and consumers both will get instant alerts.
This supply chain project tracks products via blockchain mechanism and maintains a transparent public ledger with updated and validated real-time information. As soon as the supply chain goods are listed on Bext360 system, the assets are shown via some tokenization. In order to ensure easy management, they are stored on Bext360 network. This project leads to flexible payment options, asset tracking, and smart contracts throughout the supply chain process.
This project is designed to ensure satisfactory end-to-end visibility for all goods that are transported using some shipping methods. It is basically a track and trace software that makes use of smart contracts to maintain conversations between carriers and shippers around the world. Note that, this project is based on the Ethereum blockchain network that allows parties to ensure complete visibility or transparency for the entire process. ShipChain allows clients to enjoy shipping with lower pricing, enhanced transaction times, and lesser risk of fraud and theft.
CRGO is another reliable project for the supply chain industries that provide shipping via air, sea, and land. It works through smart contracts to ensure safe storage as well as the transfer of products. The prime objective of this project is to develop an effective communication medium between transporters and cargo traders on the global level. With this, all parties can ensure active participation in the supply chain process while enjoying better assistance for documentation, approval, rejection, receiving, and sending
10. CargoX (CXO)
This project makes use of blockchain technology where all goods are shipped with the smart billing system. With this advanced program, the bills of lading can be processed anywhere in the world in a cost-effective manner. Also, CargoX has designed an advanced decentralized solution for the users that work on the basis of Ethereum blockchain. It ensures a flexible and reliable solution for the supply chain management.
With these advanced projects, supply chain industry has been improved by a great extent, and consumers these days can rely more on digital processes. The involvement of some latest technologies, such as IoT and Blockchain, has enhanced the quality of results while ensuring higher reliability.
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