The launch of digital billing Tradeshift CEO Christian Lanng opposed "hype" to the role of blockchain in supply chains on Wednesday, September 19, telling CNBC that the technology "was not ready yet."
In an interview at the World Economic Forum in Tianjin, China, Lanng highlighted the cases of blockchain use in areas such as identities and certifications, but argued that supply chains were too big a challenge for technology in its current state.
"If you want to have authenticity, if you want to know where it comes from, it's done in a responsible way […] [blockchain] is a great technology to manage that kind of flow and be sure of integrity", he told the network, adding:
"The problem is just that it's not a high-performance technology."
Speaking of the promise to improve supply chain performance using distributed ledger technology has become common throughout the global economy quest & # 39; year. As Cointelegraph continues to report, many global heavyweights are taking into consideration and are working on the implementation of blockchain-based solutions on the legacy infrastructure.
For Lanng, however, optimism is premature. "Whenever people say blockchain, I think what they're saying is that they would like to connect things digitally," he continued, noting:
"I do not think blockchain is a mature enough technology to carry it out … I also want be a little cautious for a bit of hype. "
Lanng also highlighted cost barriers and the difficulty of creating a" large-scale "blockchain deployment.
However, innovation has already seen some success, as a product of the marine supply chain of IBM and Maersk has received praise from the logistics partner CEVA as a "big step forward" in August.
More recently, the UK's leading port operator, Associated British Ports (ABP), has signed an agreement with Digital Logistic Enabler Marine Transport International to develop the use of blockchains for port logistics.