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Thursday, July 06, 2017

Consumer Brands and Blockchain

IBM piece. Refers to some work done by Wal-Mart using Blockchain.  But then takes it further.

By Laurence Haziot, IBM Global Managing Director and General Manager Consumer Industries

Why Consumer Brands Should Care About Blockchain
At the Consumer Goods Forum Global Summit in Berlin this June, I spoke alongside Frank Yiannas from Walmart about how blockchain is a collaborative solution that can help increase the traceability and transparency of food across the supply chain.

In our digitized world, consumers are demanding accurate, real-time inventory information, faster service, and low or no-cost shipping, all which require an efficient and agile supply chain.

Today, supply chains are mostly analog. Transactional data is still paper-based or uses tools such as Excel or e-mail and often have to be reconciled by the various parties at different points in time. And it comes at a huge cost to brands. Recent estimates of disruption and lack of visibility in the supply chain are around USD 300 billion globally.

Blockchain technology simplifies our complex global “system of systems.” This shared, immutable, online ledger tracks all kinds of transactions from product codes to serial numbers to contracts, images, videos and more to establish one single version of truth between the entire ecosystem of suppliers, distributors, transportation providers, retailers, banks, governmental agencies, and ultimately, consumers.  .... " 

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