Putting Blockchain in the Supply Chain
Leonard-McDowell
Leonard McDowell aligns your business objectives to gain productivity, ensure network capacity, and elevate security.
Even IBM, a premier technology company, and Maersk, one of the world’s largest shippers, have failed when trying to leverage the advantages of blockchain for the supply chain industry.? A key reason given for the failure being lack of industry participation.
?Accumulate addresses the issues behind the failure of many large blockchain initiatives like TradeLens.?? The problem is not blockchain but how most blockchains are organized.? Organization matters. ?
?Supply chains are relationship driven. ?Most supply chain participants base their value on their network of relationships.? The value brought by blockchain solutions creating distributed trust between all the participants reducing friction.? Supply chain transactions on a public chain are more trustworthy, reducing friction.? However, making the data public on a public chain discourages most of the needed participants from joining thereby killing the project.?
?Using a private chain is no help as only those running the network can trust the private chain data.? Large well-funded, supply chain participants can afford to run the network and can trust each other but the rest of the participants are left out in the cold giving them no reason to participate.?
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?Organizations are building supply chain solutions on the Accumulate blockchain because Accumulate solves the public vs private conundrum through better organization.? Accumulate is organized into networks, including private networks, which are then organized around public witness anchors written into the public network.?
?The anchors reveal nothing about the contents of the private network data but allow outside parties to cryptographically prove any data they are given from the private subnet.? Using the Accumulate approach all parties can trust all data extending the benefits to all parties.?
?Accumulate organizes data around sophisticated digital identities and uses sophisticated multi-key to organize security and governance making Accumulate the perfect blockchain for supply chain solutions.
?Reach out to the Accumulate team and find out how to Do More with Accumulate!