eCommerce is the modern approach to selling, and it comes with many incredible benefits. With online selling, businesses are able to reach customers around the world and simplify the shopping process. However, with so many different businesses in the online marketplaces, there are many challenges that eCommerce companies face. To stay competitive and reputable, online businesses must have a transparent, traceable, and secure supply. Blocklink technology can help resolve any problems with transparency, traceability and security. Learn how blocklink technology is the future of supply chain management.
Transparency, Traceability and Security
Transparency and traceability are the core concepts of an effective supply chain. Transparency is the “capture and transference of high-level information along the supply chain”. Transparent data includes all of the product’s components, supplier’s names, facility locations, and certificates. With transparency, a business can map its full supply chain. Management gains visibility of each economic operator on the supply chain and can capture the specific information relating to each supplier. This visibility is crucial for auditing compliance checks.
Traceability on the other hand looks at individual batches of components or purchase orders as they move along the supply chain. The data gathered from traceability is used for targeted recalls and reducing scale and cost. Traceability is granular, so the information is difficult to scale. Traceability relies on transparency, so it is crucial that transparency is working properly. In order to be successful, supply chain management should be built upon traceability that is resting on a foundation of complete transparency.
Supply chain security is crucial for safeguarding valuable customer and business information. Without security, your supply chain is vulnerable to cyber attacks that can infect your entire website or breach confidential data. It is imperative that your supply chain has adequate security.
Blocklink Technology is the Answer
Keeping your supply chain transparent, traceable, and secure is important, but can be difficult to do. Blocklink technology is the solution for optimizing your supply chain because it addresses all of the needs for creating a Trusted End to End Supply Chain. Blocklink technology ensures traceability and transparency in your supply chain and is incredibly secure. Because of its ability to address major supply chain business problems, blocklink technology is the future of supply chain management.
What is Blocklink Technology?
Blocklink technology will solve the problems of traceability and transparency. Blocklink uses enhanced Blockchain technology which offers a shared ledger with valid, real-time updates with each trusted network participant. Through Blocklink technology, business transactions and trading relationships are optimized on a robustly secure network on blocklink at scale and worldwide. Blocklink technology provides equal visibility of activities and the location, ownership, and condition of assets at any point in time. Blockchain technology includes the core concepts of:
- Transactions encrypted by asymmetric cryptography
- Peer-to-peer propagates
- Transactions stored in a public ledger
- Miners or validator nodes authenticate the transaction
- Transaction secured by a consensus algorithm
Through those core concepts, Blockchain and Blocklink technology greatly benefits your supply chain. Using Blocklink technology, you can eliminate reliance on a third party to maintain the central ledger. By removing this reliance, you will gain benefits such as: settlement in real time, cost saving, more robust security and resilience, immutability, and user pseudonymity. To summarize, Blocklink technology is “the use of mathematics to create a secure ledger. This enables transactions without the need for third parties.”
Blocklink Technology is the Future of Supply Chain Management
The blockchain is a distributed ledger that ensures transparency, traceability, and security. Blocklink technology enhances the supply chain and demonstrates promise to fix the current challenges associated with supply chain. You can register the transfer of goods on the ledger as transactions which would allow you to identify the parties involved, the price, date, location, quality, and state of the product as well as all other relevant information for managing the supply chain. The benefits of the ledger include:
- The ability to trace every single product back to the origin of raw material used
- Prevents any single party from holding ownership of the ledger and using it for their sole advantage
- Cryptography-based and immutable transactions that are nearly impossible to compromise for ultimate security
There are currently many efforts to leverage Blocklink technology through supply chains. The Blockchain has the ability to transform supply chain management and improve how we produce, market, purchase, and consume goods. With increased transparency, traceability, and security, supply chain management will provide safer and more ethical economies.
At MobilityeCommerce, we offer a trusted solution for your supply chain by deploying Blocklinks. With the blocklinks, you can offer greater transparency to your customers about how you build your products. We also promote socially conscious practices that make sure no exploitation of nature, humans, or animals was used in producing the goods and services. With AI algorithms combined with blockchain’s transparency, we eliminate counterfeit goods through early detection. We can provide Blocklink technology to improve your supply chain and provide ultimate transparency, traceability, and security. Speak with a MobilityeCommerce representative today or schedule your free product demo by calling us at (408) 498-5175, sending an email to firstname.lastname@example.org, or visiting our website HERE.