How to Optimize Supply Chains Using Blockchain and Cryptocurrency

We look at the top five ways to leverage blockchain and cryptocurrency to make businesses more efficient and optimize supply chains.

At present, the supply chain management system suffers from a lack of efficiency and transparency and most supply chains encounter difficulties when trying to integrate all the parties concerned. Ideally, products and materials, as well as money and data, should flow smoothly through the different stages of the process.

However, the current model makes it difficult to maintain a coherent and efficient supply chain, which has a negative impact not only on corporate profitability but also on the final retail price. Supply chain optimization research showed that high-performing supply chains lead to achieving revenue growth greater than the average within their industries to 79% of companies.

Some of the most serious supply chain issues can be resolved through the use of blockchain…