SupplyChain Magazine April 2021 | Page 63

BLOCKCHAIN

Why

Blockchain Matters More Than You Think From Bitcoin ' s success , hundreds of altcoins have arisen , and the blockchain technology ecosystem has been created off the back of its revolutionary cryptography . Blockchain technology is a complex method of storing information , and sharing it between different parties . In its rawest form , we can best describe it as a ' distributed ledger ' technology . This is an environment in which transactions of any kind are both immutable and publicly visible , leading to a much more transparent system that ensures accountability across , in the case of global trade , the entire value chain , courtesy of a peer-to-peer , decentralised network .
Blockchain Technology & ESG Now , we all know the hot topic of the day : corporate social responsibility . It ’ s being called upon or called-out — depending on the scenario — in every country , right now , supplychaindigital . com 63