Data is playing an ever-important role in virtually every industry, yet most companies still struggle to protect it or efficiently communicate it to one another. Every year, some of the largest corporations fall victim to data breaches, which cost them millions of dollars and compromise the valuable information of their clients. Since the ability to secure data is one of the most organic utilities of blockchain technology, many blockchain start-ups are developing products targeting data markets. Now, an existing company, Smart Containers, wants to utilize blockchain technology to provide a secure and seamless flow of information in the supply chain process.
Seamless Access to Data
As the name hints, a supply chain requires many companies to successfully connect with one another; the more efficient and fluid the interactions between the companies, the stronger the chain.
Smart Containers is an established company that has blended IoT technology into its advanced container designs, allowing it to have a fleet of the most advanced containers in the world. It now aims to, among many goals, utilize blockchain technology in its supply chain solutions. One key application that it aims to bring to market is seamless access to data to all participants of a blockchain.
Both the World Bank and the IMF have stated that efficiencies in the supply chain could lead to a significant growth in global trade and consequently the global economy.
Smart Containers' ability to provide seamless access to important supply chain information to all the companies participating in the chain could add the degree of efficiency to the supply chain market that is necessary to push for industry-wide growth levels that have been discussed by the IMF.
Blockchain's Role
Maersk is the leading shipping company in the world, and it is arguably the most important supply chain company. A few months ago, Maersk's systems were compromised and that allowed the hackers to have access to various aspects of the system, including the company's data. A company like Maersk plays a part in the supply chain of perhaps tens of thousands of companies; the data breach in Maersk's systems caused a vulnerability to its clients. Since Maersk was able to gain control of its systems relatively quickly, not much data was compromised. But the incident highlights an important fact: even the goliath in supply chain can be a prey to cyber attacks. Therefore, even though putting valuable data at easy access to supply chain participants could be extremely beneficial, there are attached risks. However, Smart Containers is utilizing blockchain technology to keep its infrastructure secure.
Supply chain data is extremely valuable and some companies consider it as proprietary information. By utilizing blockchain's native security features, Smart Containers is able to give clients the confidence that their data will remain safe.
Wrap-Up: Blockchain makes it possible for Smart Containers to securely provide seamless access to supply chain data to a chain's participants. The resulting increase in efficiency could potentially benefit the global economy.
Essential Smart Containers Links
š Website: https://smartcontainers.ch/
š” Whitepaper: https://smartcontainers.ch/assets/20180502_smartcontainers_whitepaper_v2.pdf
šØ ANN Thread: https://bitcointalk.org/index.php?topic=3058528.0
š» Telegram: https://t.me/smartcontainers
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