Three Companies Leading the Charge to Blockchain the Supply Chain

Many in the industry are already familiar with the idea that blockchain can serve as a potential turning point in visibility and security across supply networks; unfortunately, few companies have bet their future on this largely untested platform.

Looking at it on paper, it’s obvious that blockchain can help solve problems that have long plagued supply chains, including real-time traceability of goods and data accuracy, counterfeiting prevention, financing and contracts, and software that can handle the burgeoning workloads associated with worldwide trade and shipping.

According to Brice Achkir, distinguished engineer and senior director, Cisco Systems and SEMI Smart Manufacturing advisory council member, though blockchain is not mature enough to be embraced as a proven supply chain business model yet, firms should still look to invest in the technology:

IBM, Deloitte Consulting, Microsoft, and other big-nme service firms have begun to offer some blockchain applications for supply chain management, but only a handful of startups have emerged as viable contenders to fulfill this potentially lucrative need on a large scale

Author B. Cameron Gain points to the following three companies, all of which proclaim to have what it takes to port supply chain issues over to blockchain solutions.

Marine Transport International’s (MTI)

MTI’s blockchain network could potentially serve as the logistics backbone in worldwide ocean vessel trade.

SophiaTX

Slovakia-based startup SophiaTX believies its blockchain interface will help users harness blockchain’s much-touted potential: the ability for all suppliers and buyers to trace and track supply chain data in real time, as well as the associated bills of lading and contracts information

Cardano

Offering both a blockchain transaction platform and serving as a cryptocurrency provider, Cardano says its users can rely on its blockchain platform since it takes a very conservative approach by relying on academics, engineers, and scientists for the development of its platform.

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