Blockchain-Based Supply Chain Traceability
Blockchain is here to stay, and companies in diverse industries are either investigating how they might benefit from its strengths or have already invested in using the technology in their operations.
As you probably know, a key appeal of blockchain is its ability to maintain immutable records in a decentralized fashion. For supply chain traceability, blockchain allows the provenance of any product to be easily demonstrated with and supported by immutable, tamper-proof data. This not only improves product safety, expedites regulatory compliance, and helps prevent counterfeiting, fraud, and waste — it enhances transparency and visibility, and creates new possibilities to engage consumers with compelling, verifiable product stories.
This white paper provides an overview of the origins of blockchain, from its earliest applications in cryptocurrency and recordkeeping, and discusses how it has transitioned into other industries, including supply chain management. In so doing, we hope to demystify blockchain, which despite its growth and the “buzz” surrounding it, remains opaque to many.
We also examine rfxcel’s Blockchain solutions, our proprietary, platform-agnostic solution that helps customers and their partners ensure that they can interface with blockchain applications. You’ll see how our solutions improve end-to-end supply chain traceability, visibility, and transparency, and learn how it can work in the pharmaceutical, food and beverage/agribusiness, consumer goods, and government industries.
Our trust in the items we consume, from prescription drugs and organic foods to name-brand designer goods, depends on the reliability of supply chains. For almost 20 years, rfxcel has committed itself to making supply chains safer, faster, and more traceable and transparent. We recognize the potential of blockchain and will work with you when you’re ready to see how it might benefit your operations.