Supply chain practitioners must consider blockchain technology’s potential use cases to establish its true potential.
London, 26 October 2016 – Blockchain technology, which transfers the ownership of a cryptocurrency, can be equally extended to transferring title of any other asset. A pallet of goods, a bill of lading, a purchase order, and a certificate of origin are all examples of assets that similarly would apply to blockchain capabilities, and blockchain technology has important possible applications in supply chain management. Nevertheless, banks and vendors lack an industry-wide approach to listen to and capture corporate user needs.
“Financial institutions and software vendors must ensure that blockchain-based solutions are built on top of real use cases and answer all corporate concerns and requirements,” says Aite Group senior analyst Enrico Camerinelli.
Aite Group’s latest report, Blockchain for the Supply Chain: What Corporations Want, verifies how blockchain impacts supply chain management processes and identifies the areas in which SCM professionals would most benefit from blockchain-based applications.
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About Aite Group:
Aite Group is a global research and advisory firm delivering comprehensive, actionable advice on business, technology, and regulatory issues and their impact on the financial services industry. With expertise in banking, payments, insurance, wealth management, and the capital markets, we guide financial institutions, technology providers, and consulting firms worldwide. We partner with our clients, revealing their blind spots and delivering insights to make their businesses smarter and stronger. Visit us on the web and connect with us on Twitter and LinkedIn.