Heralded as one of the most transformational technologies of our time, it is next to certain that blockchain will affect your business in some way. Business leaders able to grasp the opportunities of this technology in applications as diverse as supply chain and customs to food safety and customer engagement are poised to unlock future growth.
Transactions involving the transfer of assets – such as goods, money, patents, contracts or just about anything that holds value – are traditionally tracked in ledgers. These ledgers, however, are inefficient, costly and non-transparent. Moreover, they are trust-based, making them sensitive to fraud and misuse – which is why we rely on 3rd parties such as banks, government bodies, auditors, certifiers, inspectors and others to verify them. Blockchain aims to solve all of these deficiencies.
A blockchain is a tamper-proof, shared digital ledger that records transactions in a public or private peer-to-peer network. All assets are embedded in digital code and stored in transparent, distributed databases. Every transaction has a unique digital signature that is identified and validated by the entire network, protecting them from deletion, tampering, and revision. As such, blockchain’s new form of data sharing and asset transfer has the potential to eliminate intermediaries and central third parties.
Belgian-based sauce producer Manna Foods envisions a completely transparent supply chain, from farm to fork. Together, we came up with a blockchain-based solution enabled by SAP S/4HANA.
Industry 4.0 is defined by the advent of new technologies that are revolutionizing the way businesses operate, collaborate and create value. Blockchain is one of these central technologies – and it enables far more than just track and trace. Explore how delaware’s blockchain solution for food companies takes efficiency, cooperation and customer empowerment to the next level.
Consumers want to know exactly what they are eating. Blockchain can help to satisfy their hunger for answers, so it is high time to make wider use of this extremely promising technology in the meat sector.
Increased collaboration, overall transparency and process automation in the supply chain