A point by point set of examples, includes some examples such as what Wal-Mart is doing. Biggest possibility I see is the sharing of operational data between retailers and suppliers to assure quality and future predictive supply and demand measures. Other possibilities? The better integration of data sharing ... ?
How Will Blockchain Smart Contracts affect the FMCG Sectors?
Kuldeep Kundal in CustomerThink
Blockchain, which acts as the foundation for digital currencies like Bitcoin and other cybersecurity systems is receiving growing media attention. Depending on a distributed record system, where every transaction is logged for all related and authorized stakeholders to see, it is perceived as a conceivable way of strengthening trust and security and fast-tracking business processes, serving to remove the human component. Many administrations, tech moguls and industries are beginning to try out blockchain technology.
Smart contracts are self-executing contracts in which the conditions of the agreement between buyer and seller are clearly written into lines of code. The code and the agreements enclosed within are stored across a distributed, decentralized blockchain network.
Businesses are looking at ways to automate transactions to make them smoother, more efficient, and more secure for all parties, and it looks like blockchain and smart contracts are viable solutions.
Smart contracts development enable trusted transactions and agreements to be implemented among different, anonymous parties without the necessity of any central authority, legal structure, or external enforcement system. They make sure transactions visible, clear, and unalterable. .... "
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