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Strategies & Market Trends : Blockchain and Cryptocurrencies -- Ignore unavailable to you. Want to Upgrade?

To: Glenn Petersen who wrote (290)	1/18/2018 5:38:13 PM
From: Elroy	Read Replies (1) \| Respond to of 7596

The distributed ledger technology that underpins cryptocurrencies is now poised to disrupt supply chain management – especially in the global shipping industry Why shipping? Who needs a permanent immutable record of where a specific ship was a year ago? You might benefit from real time information of where a ship is today, but that has little to do with a blockchain. For example, if a retailer orders 1,000 widgets and only 990 show up, they can refuse to pay the invoice until the manufacturer can show where the other units are. You can do the same thing without a blockchain. For example, an aggregated record between manufacturers or distributors and buyers can also include the financing partners, so that once all parties agree goods have been delivered, payments on invoices can be released. To process the payment you only need the payer's approval, not the financing partners approval. And again, you don't need any historical records stored in a blockchain. Determining whether 100 units have arrived at their destination in good shape has nothing to do with a blockchain. "The sooner manufacturers and distributors can agree on shipments and receipts, the sooner manufacturers can be paid for their goods. Getting paid faster improves financial liquidity for members of the supply chain," Fearnley said. This is totally unrelated to public ledgers of all transactions.