What are the benefits of blockchain in supply chain transparency? 🔊
Blockchain benefits supply chain transparency by providing a tamper-proof and decentralized ledger that records every transaction. This transparency ensures that all participants in the supply chain can access real-time information about the product’s journey, enhancing trust and accountability. Additionally, blockchain technology supports traceability, allowing businesses to identify the origins of products, which is particularly important for industries like food safety and pharmaceuticals. Overall, it minimizes fraud and inefficiencies while fostering a more resilient supply chain.
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