The blockchain fabric must provide a means to allow every participant on a supply chain network to input and track sourcing of raw materials, record parts manufacturing telemetry, track provenance of goods through shipping, and maintain immutable records of all aspects of the production and storage of a finished good through to sale and afterwards.
The block chain acts as a distributed, single source of shared truth. Smart contracts can be leveraged to update the state of transaction, but also be shared amongst parties. Smart contracts can also trigger events that can be used to indicate the success or failure of a transaction.
- Verifiable, preventing any party from altering or challenging the legitimacy of the information being exchanged.
- Efficiencies through greater transparency to complex global supply chains.
- Allow consumers to make informed purchases.
- Governments can quickly and easily request reliable information from across the supply chain.