Unmasking the blockchain in supply chains

Of SCMR staff ·
November 9, 2020

Today, the blockchain is often subject to collective upheavals. And with good reason. Who does not immediately associate blockchain with bitcoin cryptocurrency, which has its own curious providence.

Bitcoin was created in 2009 by an unknown person or group of people. And while an article by Satoshi Nakamoto is credited for being the first on bitcoin, no one knows who Nakamoto is.

Bitcoin underwent some “ownership” changes early on, which did little to make the cryptocurrency more transparent despite its constant reliance on blockchain technology to track and secure transactions. Meanwhile, the value of one bitcoin has ranged from 30 cents to nearly $ 20,000. As a result, there is widespread disagreement between bank CEOs and investors over the usefulness of bitcoin as a cryptocurrency. Some go so far as to call it a scam.

Unfortunately, the word clarity is not always associated with bitcoin. And blockchain suffers in part from association guilt. And this is part of the current blockchain image problem. Any marketing person would tell you that blockchain brand needs a major repositioning.

Some of these processes are happening now as a result of practical and successful initiatives in the financial, commercial and real estate sectors that demonstrate the value of blockchain in regards to transaction governance. Additionally, supply chain management, especially purchasing and logistics, is starting to demonstrate the value of technology for these complex businesses.

That said, we wanted to know more precisely what holds blockchain in the supply chain. Therefore, at the end of 2019 we surveyed 115 Swiss freight forwarders and logistics service providers of all sizes. Forty-eight percent of respondents work in companies with more than 100 employees, nearly half of which in companies with more than 1,000 employees. Over 40% of companies have a turnover of over $ 51 million. The survey is part of an annual survey conducted by the Institute of Supply Chain Management of the University of St. Gallen on the logistics market in Switzerland.

Of SCMR staff ·

November 9, 2020

Today, the blockchain is often subject to collective upheavals. And with good reason. Who does not immediately associate blockchain with bitcoin cryptocurrency, which has its own curious providence.

Bitcoin was created in 2009 by an unknown person or group of people. And while an article by Satoshi Nakamoto is credited for being the first on bitcoin, no one knows who Nakamoto is.

Bitcoin underwent some “ownership” changes early on, which did little to make the cryptocurrency more transparent despite its constant reliance on blockchain technology to track and secure transactions. Meanwhile, the value of one bitcoin has ranged from 30 cents to nearly $ 20,000. As a result, there is widespread disagreement between bank CEOs and investors over the usefulness of bitcoin as a cryptocurrency. Some go so far as to call it a scam.

Unfortunately, the word clarity is not always associated with bitcoin. And blockchain suffers in part from association guilt. And this is part of the current blockchain image problem. Any marketing person would tell you that blockchain brand needs a major repositioning.

Some of these processes are happening now as a result of practical and successful initiatives in the financial, commercial and real estate sectors that demonstrate the value of blockchain in regards to transaction governance. Additionally, supply chain management, especially purchasing and logistics, is starting to demonstrate the value of technology for these complex businesses.

That said, we wanted to know more precisely what is holding blockchain back in the supply chain. Therefore, at the end of 2019 we interviewed 115 Swiss freight forwarders and logistics service providers of all sizes. Forty-eight percent of respondents work in companies with more than 100 employees, nearly half of which in companies with more than 1,000 employees. Over 40% of companies have a turnover of over $ 51 million. The survey is part of an annual survey conducted by the Institute of Supply Chain Management of the University of St. Gallen on the logistics market in Switzerland.

November 9, 2020