Rewriting Trade & Finance with Blockchain

The promise – and ability – of blockchain to drive business impact is massive, but how publicised is it and how much is reality?

Impacts of Blockchain technology on the Supply chain & Payment industry

Impacts of Blockchain technology on the Supply chain & Payment industry is such that the blockchain will touch, if not disrupt, every major industry and even change the way people and societies interact. It is a technology that increases efficiency, reduces costs, and promotes transparency and can have significant implications for areas that are dedicated to tremendous impact. The ability to change existing processes and systems and decentralised infrastructure/ownership may enable solutions that were not possible before. And the estimated market size indicates it’s going to be a worldwide adaptation at multiple different levels.

Forget mere efficiency gains. Blockchain isn’t a whisper, it’s a disruptive symphony set to resound through every major industry, even our social fabric. This transformative technology isn’t just about shaving costs and streamlining processes; it’s about rewriting the rules of trust, transparency, and ownership.

Imagine supply chains pulsing with real-time data, every transaction etched in an immutable ledger. Picture payments dancing across borders, frictionless and secure. This is the future blockchain paints, a future where:

• Trust becomes code: Intermediaries fade, replaced by self-executing smart contracts, weaving trust into every interaction.
• Transparency takes center stage: Every step, from raw materials to final product, is illuminated, fostering accountability and building stronger relationships.
• Decentralization empowers: Power shifts from monolithic corporations to a vibrant network of participants, unlocking innovation and inclusivity.
• Costs waltz downwards: Layers of complexity peel away, paving the way for leaner operations and greater profitability.
• New solutions blossom: Possibilities once unimaginable bloom in this fertile ground of trust and transparency. Imagine micro-supply chains for local farmers, or community-owned renewable energy grids.

This isn’t just a technological shift; it’s a cultural transformation. Blockchain whispers promises of a world where every transaction tells a story, every interaction builds trust, and every innovation empowers. The estimated market size is just the first echo of this symphony, its crescendo yet to come. Buckle up, the disruption has only just begun.

But the even bigger question is, are we at the pinnacle of a future-defining technology that will drive massive business impact, or is the latest technology’s blockchain — noisier than substance?

The report is the result of an analysis of more than 6 organizations, initiatives, and projects that are impacting the business to leverage blockchain. The report also features a first-hand analysis of the world’s first blockchain-based supply chain financing solution designed and implemented by me. This work is captured by mapping the landscape of such blockchain applications, which blockchain applications have already begun to demonstrate the proven impact that industry use cases are more or less advanced, and We must learn from various test cases, proof of concepts, pilots, and experiments that are using blockchain for commercial impact in the supply chain and payment industry.

Reference:

Finextra.com