How can blockchain technology improve supply chain transparency? 🔊
Blockchain technology can improve supply chain transparency by providing an immutable and decentralized ledger that records transactions. This allows all participants in the supply chain, from manufacturers to retailers, to track the origin and movement of products in real time. Each transaction is securely logged, making it virtually impossible to alter or delete records, thus enhancing trust between stakeholders. This transparency mitigates fraud, verifies authenticity, and improves traceability, ensuring consumers receive genuine products while optimizing overall efficiency within the supply chain.
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