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What’s the Scoop: Blockchain & the Supply ChainLike so many new technologies, blockchain has promised much, but has yet to really deliver. I’ve taken time out recently to read, explore and try to understand blockchain whilst talking to experts about possible applications in the world of manufacturing and supply chain. This technology, born out of necessity for the management of cryptocurrencies, seems to have applications wherever trusted data needs to be exchanged and where a distributed ledger can be used. Investopedia defines blockchain in the following way: A blockchain is a digitized, decentralized, public ledger of all cryptocurrency transactions. Constantly growing as ‘completed’ blocks (the most recent transactions) are recorded and added to it in chronological order, it allows market participants to keep track of digital currency transactions without central recordkeeping. Each node (a computer connected to the network) gets a copy of the blockchain, which is downloaded automatically. Blockchain has been around for a decade or more, but, until now, had been used mostly for underground purposes, such as criminals trying to hide money. That’s set to change. In fact, Market Reports Center, in a recent report, estimated that the global market for blockchain, which accounts for $708 million in 2017, will grow to reach $60.7 billion by 2024. With so much information and confusion out there, I decided to ask a few friends, colleagues and experts for their opinion. I wanted to know how much of ‘blockchain in the supply chain’ is hype and how much is it being realized, as well as where the biggest gains are to be had in the technology supply chain. Click on the image below to start a slideshow that delves into the thoughts of a handful of industry leaders.
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More Blogs from Philip Spagnoli Stoten
Next month brings a slew of conferences that will lay out the biggest manufacturing, supply chain and technology trends. These events point to some understanding about where the industry will go this year.
AI is the newest battlefront for the race to domination. Unfortunately, tariffs and trade wars have to be factored into the equation.
Data, data everywhere. It’s like water, if it’s not fit for consumption it’s no good to anyone. A focus on collecting data doesn’t serve us well, unless of course you’re selling data storage solution. What the industry needs to move from information to intelligence, is actionable data that improves and accelerates decision making. Better decision, made faster.
This discussion and debate around cyber physical systems consider how groups of machines, and therefore groups of vendors and their software systems, can work together to deliver enhanced value in the smart factory.
EBN Dialogue / LIVE CHAT
 EBN Dialogue enables you to participate in live chats with notable leaders and luminaries. Open to the entire EBN community of electronics supply chain experts, these conversations see ideas shared, comments made, and questions asked and answered in real time. Listed below are upcoming and archived chats. Stay tuned and join in!
Archived Dialogues
 Live Chat 01/15: CPOs Re-Shape Their Business Roles
Increasingly chief procurement officers (CPOs) are re-shaping their organizational role to focus on creating results far beyond cost controls. A new IBM survey explores how. Live Chat 11/12: Examining the Cyberthreat to Supply Chains
The number of cyberattacks is on the rise and hackers are targeting the supply chain. Drew Smith, founder and CEO of InfoArmor, will be on hand to discuss the reality of today's threat landscape and what to do about it. |
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