Blockchain Technology a Natural Progression for Supply Chain Companies

Written by ramatarun | Published 2020/01/12
Tech Story Tags: supply-chain-management | blockchain | logistics | supply-chain | iot | supply-chain-disruption | smart-contracts | consortium-blockchains | web-monetization

TLDR Global supply chain market was valued at $ 85.7 million in 2018 and projected to grow at a CAGR of 80.4% to reach $ 2674.9 million by 2024. Application of Blockchain to global supply-chain alone could result in more than $100 billion in efficiencies. Add improvements in provenance and traceability of pharmaceuticals and food. Global value of counterfeit goods estimated at $1.2 trillion to $2.3 trillion by 2022. Every transaction in the network is recorded in a digital ledger, and multiple transactions forming a block.via the TL;DR App
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Written by ramatarun | WEB3 & AI
Published by HackerNoon on 2020/01/12
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