People's Network: Blockchain technology can greatly improve supply chain efficiency

In recent years, with the application of new technologies such as artificial intelligence, blockchain, and the Internet of Things, while digitization has improved the efficiency of the supply chain and reduced the operating costs of enterprises, it has also provided a more optimized decision basis for enterprises to formulate overall industrial development strategies. . Establishing a digital supply chain will increasingly become the key for companies to remain competitive.

The report released by the British Thunderstone Balanced Fund shows that the use of blockchain technology's information decentralization, verifiability and immutability can effectively increase the transparency of the supply chain and reduce the flow of paperwork in the supply chain. , Greatly improving the efficiency of the supply chain. According to statistics, the procedure cost can account for 15% to 50% of the entire transportation cost. Taking shipping as an example, a container freighter traveling from East Africa to Europe requires at least 30 written approvals from various levels of organizations. The application of blockchain technology can effectively simplify this process.