Blockchain is set to "supercharge" global supply chains by 2025, according to a newly released report from technology consulting firm Capgemini.
New report on Blockchain reveals how organizations are starting to make the promise real
The benefits of Blockchain are there for all to see: it’s an immutable, decentralized, trustless and peer-to-peer ledger offering giant leaps forward in security, visibility, and traceability for digital transactions. And the advantages for the supply chains of organizations are tantalizing:
- Blockchain dramatically increases transparency and responsiveness, previously difficult and very expensive.
- It helps the end-consumer definitively identify if a product is manufactured by a given brand, ensuring authenticity and reducing counterfeits.
- It helps an organization quickly trace contamination to its source and mitigate against costly and a potentially reputation-damaging mass recall of products.
However, the new report from the Capgemini Research Institute, ‘Does Blockchain hold the key to a new age in Supply Chain transparency and trust?’ reveals that just 3% of organizations are implementing Blockchain use cases on a large scale. The report examines precisely why this is so, identifies pace-setters already adopting initiatives and outlines critical recommendations for future Blockchain strategy.
Blockchain’s value will grow as more players become part of the network. But before companies invest, they need to analyze all the available data to ensure ROI. Is it time to time to get onboard as the hype turns into reality?
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