What role does blockchain play in supply chain transparency? 🔊
Blockchain plays a critical role in supply chain transparency by providing an immutable digital ledger that records every transaction throughout the supply chain. Each transaction is time-stamped and linked in chronological order, allowing stakeholders to trace products from origin to consumer in real-time. This enhances accountability, reduces fraud, and improves efficiency by enabling better tracking of inventory and shipments, fostering trust among suppliers, manufacturers, and consumers.
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