Typical product recalls in the supply chain ecosystem cost $8 million per year, and improved tracking and tracing using blockchain can reduce that annual cost.
Blockchain
Blockchain technology has a broad application prospect as it can solve the problems of traceability, managing identity and ownership disputes in the supply chain.
It is reported that at present, many people compare cash and bitcoin. After all, although they understand that they are different virtual currencies, they still can not break the relationship between them.
Embracing blockchain seems to have become the mainstream of the industry nowadays. Both entrepreneurs and Internet giants have started to extend their development tentacles to this industry that is going to bring disruptive development to traditional industries.
A very obvious phenomenon is happening - the meta universe is being praised by more and more people, whether it is a technology giant or a capital giant. At the same time, the blockchain is returning to rationality and objectivity bit by bit. This is a good phenomenon for blockchain.
The decentralized, consensus-driven and lack-of-trust nature of blockchains makes them inherently resilient to attacks.
Payment can be said to be a link of great concern to both sides of the transaction. E-commerce is now developing at a high speed, and payment is a fundamental link in the process of fund financing, which is very important. With the development of blockchain technology, there are now many ways to realize fund transfer through blockchain technology
Standard explanation: "Blockchain is a new application mode of distributed data storage, point-to-point transmission, consensus mechanism, encryption algorithm and other computer technologies."
Simple understanding: "Blockchain is essentially a decentralized distributed database."
The public chain Polygon has more daily active users than Ether, and its overall market capitalization has exceeded the $10 billion mark, and there are three main reasons behind its current success.
More and more companies are turning to blockchain in order to improve their supply chain production processes.