A relatively new innovation in the world of IT, blockchain first exploded in popularity alongside the rise of cryptocurrencies like Bitcoin. In its simplest terms, blockchain is a highly interactive, traceable, and transparent digital ledger that features elevated security. It’s best used for exchanging information, including contracts and even payments, from one party to the next. It also has some viable uses in the smart warehouse of the 21st century.
Blockchain is great for tracking assets. After all, that is one of its original purposes. Warehouse employees can use it to easily follow assets – including incoming and outgoing shipments, stored pallets, containers, and even unpackaged goods – throughout every step of the supply chain.
Linking Physical Goods to Proprietary Serial Numbers
Blockchain makes it easy to interject your company’s own serial numbers and tracking conventions onto incoming shipments or manufactured parts. Some manufacturers even utilize digital tags, such as RFID chips, to streamline the process of tracking goods.
As the modern supply chain requires all-new levels of transparency, blockchain is the natural choice. Because every transaction on the blockchain is traceable and accessible to everyone involved, the number of discrepancies is kept at an absolute minimum.
As mentioned, blockchain is meant to share information between parties – including manufacturers, vendors, suppliers, and customers.
One of the primary selling points of blockchain is its security. Although it’s not completely impenetrable by today’s tech-savvy hackers, and while it’s still prone to fraud on the user level, it’s one of the most secure platforms we’ve seen on the Internet to date.
In theory, blockchain supports an infinite number of users or participants. However, its functionality isn’t diminished by using only a few. Whether you’re hosting a party of three or three million, blockchain has you covered.
Find Your Top Employees with Mega Force
Now that you have a better idea of the benefits and advantages of blockchain technology in the 21st century, it’s time to put that information to work for you. Whether you’re trying to implement blockchain technology to benefit your warehouse or even if you just need to fill your roster with temporary workers, contact the professionals at Mega Force today! We have professionals who are standing by and eager to take your call.