From the course: Digital Transformation in Supply Chains

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Share and secure data with blockchains

Share and secure data with blockchains

From the course: Digital Transformation in Supply Chains

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Share and secure data with blockchains

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- Many of the challenges that we face in business involve storing information securely and exchanging information with our customers and suppliers. In this video, we'll talk about how blockchains could help us store and share supply chain data in a new way. In practical terms, a blockchain is basically a database that can be shared by lots of different people. I think of a blockchain like a shared electronic log book, which, by the way, is why blockchains are sometimes called distributed ledger technology or DLTs. Let's think about how that could be useful in a supply chain by examining what happens when a company places an order with their supplier. It starts when the buyer generates some information, like a purchase order number and transportation routing instructions. At the same time, the supplier creates a sales order and tracks information like the lot numbers and the serial numbers of the products along with prices and…

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