If we can be honest with ourselves, we will know that the supply chain industry is undergoing serious problems and that is why the industry is experiencing a redundant growth. It is generally inefficient, cumbersome and consumes time and resources. Lack of transparency, lack of traceability, lack of proper agreement and management enforcement are some of the other problems that are facing the supply chain industry. The problems that are facing the supply chain industry is why numerous platforms have been developed to ensure that the industry grows, in this article, we will discuss some of the blockchain based platforms that have been developed to solve the problems of this industry.
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Some of these blockchain outfits include :
1. WaltonChain
This platform happens to be the first that was developed to be used in the supply chain industry. This blockchain based platform combines both the digital and physical world to create a very efficient system.
This platform makes use of RFID chips and combines it with the innovative and advanced blockchain technology to achieve the following feats for the industry :
- Authenticity
- Security
- Traceability
- and data integrity for efficient audits.
This platform makes provision for a parent and child platform or system that would connect various industries based on their needs. This platform is fueled by its native cryptocurrency "WTC". You will find it interesting to know that this platform has already partnered with over 6 top companies and the wonderful thing about this platform is it develops its own chip technology which makes it independent.
In the coming years, this platform seeks to venture into smart agriculture, efficient management, food traceability, smart medical care and attention and also an art industry.
2. Ambrosus
Like the WaltonChain platform, this platform was developed and launched in 2017 and it seeks to offer all those in the supply chain industry an efficient supply chain process through the use of the blockchain platform. In order to carry out its set goals, this platform combines certain high tech sensors, smart contracts and techs to create and provide users with a verifiable and a community-driven network or system that will assure them of the origin, safety and quality of medicinal products and food.
It seeks to offer these features with its protocol and also, it makes use of it native cryptocurrency called "Amber". Not only does this token fuel the network, but it also interacts and executes smart contracts.
3. Vechain
This platform also offers ways that can improve the general efficiency level of the supply chain industry. The main difference between this platform and the others mentioned is that the latter does not focus directly on one particular industry or sector. It can be adopted and used in various industries and sectors as well.
This platform combines Internet of Things (IoT) sensors and the blockchain technology to offer seamless integration for various supply chain businesses. Like WaltonChain, this platform has partnered with several supply chain companies to provide them with efficient and traceable services.