Supply Chain how DLT is changing business

The Distributed Ledger Technology (DLT) is changing many areas of business, building the foundations of a new chain of trust. Not only does it have the potential to become the new engine of economic value, but it can also attract business on aspects such as speed and scalability of transfer, ease of programming, and certain costs.

So far, DLT technology has mainly developed in the financial services sector. Outside of this context, there are sectors such as the supply chain and/or physical retail supply that could benefit from DLT, especially in terms of supply chain traceability.

Supply Chain

Supply chains mainly work with procedures and processes that are predominantly manual, still carried out with paper documents. The blockchain, on the other hand, is transparent and verifiable, immutable and redundant, and seems like an excellent solution to help solve the verifiability of a digital trace, recording the path of the product and sharing the supply chain with all participants.

All stakeholders can access, verify the origin, authenticate the items and demonstrate compliance. Today there are some well-developed blockchain protocols, certainly ready for widespread adoption, which have brilliantly solved the problem of scalability, as intense as maximizing transactions, security, and certainty of infrastructure costs.

Takamaka Blockchain Solution

Takamaka is one of these protocols that processes up to 10,000 tx/30 sec, which translates to having a Blockchain capable of maximizing transactions up to 1,000,000/hour (at least). This translates into a completely business-friendly environment, which only needs to be linked to imagine and build its own idea and business model.

Takamaka is a completely public blockchain, to which anyone can connect and give purpose to their imagination, previously programming a budget to realize their idea, without having to struggle to learn a new programming code.

[https://github.com/takamaka-dev/takamakabridge

DLT technology is making great strides, but it is still a poorly understood and underutilized technology, however, there are more and more opportunities on the horizon for non-financial sectors to take advantage of this technology. Trust in the supply chain and traceability is just two of the many examples in which blockchain can provide a solution but in the future, there will surely be even more to discover and exploit with DLT technology.

For information on Takamaka, follow www.takamaka.io