Blockchain is a distributed public ledger that was first introduced as the base technology for the digital currency Bitcoin. Currently, Provenance, a UK based blockchain company, is seeking to use the technology to provide consumers greater transparency in the supply chain journey of the products they are purchasing. The mission of Provenance is to provide consumers with the ability to effectively support companies whose business operations are ethical and socially responsible.
An example of how this technology could be used is with tracking the supply chain of canned fish. The blockchain technology would be used to illustrate to the consumer where the fish was caught, processed, packaged, and distributed for sale. Through creating supply chain transparency, Provenance is giving consumers the ability to combat the illegal fishing and human rights abuses that are common in the seafood industry. Overall, this technology will not directly reduce unethical business practices, but it will provide consumers with greater power in supporting ethical business operations. Provenance’s use of blockchain is just one example of the numerous applications of the revolutionary technology.
Reference:
https://www.theguardian.com/sustainable-business/2016/sep/07/blockchain-fish-slavery-free-seafood-sustainable-technology
This is a very interesting article. I used to think that blockchain technology can only be applied to the financial area, but obviously it has more purposes and can be used in wider areas such supply chain management.
Nice article, I like the idea