Implementing BlockChain for Supply Chain and Retail
- BlockChain refers to chain of secured blocks connected to each other promoting decentralisation without Single Point of Failure. BlockChain functions and verifies data between computer systems ensuring data integrity.
- Indispensable aspects of BlockChain includes transparency and distributed approach.BlockChain will interpret and analyze the data of customers, will elicit response on accomplishment of certain requirements.
- Implementation of Secure E-commerce portal can reveal whole history of products and customer data reducing man power as well as bad customer experiences.
BlockChain Applications in Retail
- Decentralised Platform
- Better Payment Approach
- Transparency and Integrity of DataBases
- Fraud Prevention and Duplicacy Removal
BlockChain for Supply Chain Management
- Track and Automate Transactions at Real-Time
- Contracts of self -execution
- Power Generation
- Smart IoT applications