Blockchain for Supply Chain
Use Cases, Features, Challenges, Costs
Loginet applies 33 years in IT and proficiency in blockchain development to help businesses design and build robust blockchain-based payment solutions.
Blockchain for Supply Chain: The Essence
Blockchain for supply chain is aimed to increase supply chain transparency, improve traceability of multi-party supply chain activities, eliminate manual efforts across invoking and recording supply chain transactions, enhance security of sensitive supply chain data.
Blockchain Supply Chain Market
The global market of blockchain for supply chain was estimated at $253 million in 2020. It is expected to reach $3.272 million by 2026 at a CAGR of 53.2%. The main drivers for the popularity of blockchain-based solutions are increasing demand for supply chain transparency and traceability, security of supply chain transactions, and robust automation of supply chain finance processes with no middlemen.
How Blockchain for Supply Chain Works
A sample architecture
In 2021, the global blockchain market was estimated at $4.67 billion. It is expected to grow from $7.18 billion in 2022 to $163.83 billion by 2029 at a CAGR of 56.3%. Cross-border payments and settlements are considered the largest blockchain use case segment. According to the IDC Worldwide Blockchain Spending Guide, it accounted for 15.9% of the total blockchain market in 2021.
Juniper Research estimates that the total value of B2B cross-border payments immutably stored on blockchain will exceed $4.4 trillion by 2024 and will account for 11% of the total B2B cross-border payments; up from $171 billion in 2019. The main drivers for the popularity of blockchain-based payment solutions are increasing demand for payment data transparency and traceability, fast, secure, and cost-effective processing of payment transactions with no middlemen.
Juniper Research estimates that the total value of B2B cross-border payments immutably stored on blockchain will exceed $4.4 trillion by 2024 and will account for 11% of the total B2B cross-border payments; up from $171 billion in 2019. The main drivers for the popularity of blockchain-based payment solutions are increasing demand for payment data transparency and traceability, fast, secure, and cost-effective processing of payment transactions with no middlemen.
Main use cases
Supply chain control
End-to-end visibility into all supply chain data and transactions for enhanced transparency and improved control over supply chain operations across multiple tiers of suppliers and quick collaborative issue resolution with the involved parties.
Supply chain finance management
End-to-end visibility into all supply chain data and transactions for enhanced transparency and improved control over supply chain operations across multiple tiers of suppliers and quick collaborative issue resolution with the involved parties.
Supplier risk management
End-to-end visibility into all supply chain data and transactions for enhanced transparency and improved control over supply chain operations across multiple tiers of suppliers and quick collaborative issue resolution with the involved parties.
Logistics management
End-to-end visibility into all supply chain data and transactions for enhanced transparency and improved control over supply chain operations across multiple tiers of suppliers and quick collaborative issue resolution with the involved parties.
Supply authenticity verification
End-to-end visibility into all supply chain data and transactions for enhanced transparency and improved control over supply chain operations across multiple tiers of suppliers and quick collaborative issue resolution with the involved parties.
Supply chain compliance management
End-to-end visibility into all supply chain data and transactions for enhanced transparency and improved control over supply chain operations across multiple tiers of suppliers and quick collaborative issue resolution with the involved parties.
Inventory management
End-to-end visibility into all supply chain data and transactions for enhanced transparency and improved control over supply chain operations across multiple tiers of suppliers and quick collaborative issue resolution with the involved parties.
Claim management
End-to-end visibility into all supply chain data and transactions for enhanced transparency and improved control over supply chain operations across multiple tiers of suppliers and quick collaborative issue resolution with the involved parties.
Key features
Automated recordkeeping
Fast and convenient peer-to-peer payments for retail, healthcare, public transportation, entertainment, hospitality, and other industries, including QR-code-based payments for face-to-face environment.
Supply chain tracking and tracing
Fast and convenient peer-to-peer payments for retail, healthcare, public transportation, entertainment, hospitality, and other industries, including QR-code-based payments for face-to-face environment.
Smart contract-enabled automation
Fast and convenient peer-to-peer payments for retail, healthcare, public transportation, entertainment, hospitality, and other industries, including QR-code-based payments for face-to-face environment.
Supplier data verification
Fast and convenient peer-to-peer payments for retail, healthcare, public transportation, entertainment, hospitality, and other industries, including QR-code-based payments for face-to-face environment.
Supply chain objects registration
Fast and convenient peer-to-peer payments for retail, healthcare, public transportation, entertainment, hospitality, and other industries, including QR-code-based payments for face-to-face environment.
A full audit trail for supply chain documents
Fast and convenient peer-to-peer payments for retail, healthcare, public transportation, entertainment, hospitality, and other industries, including QR-code-based payments for face-to-face environment.
Supply chain data validation
Fast and convenient peer-to-peer payments for retail, healthcare, public transportation, entertainment, hospitality, and other industries, including QR-code-based payments for face-to-face environment.
Supply chain data validation
Fast and convenient peer-to-peer payments for retail, healthcare, public transportation, entertainment, hospitality, and other industries, including QR-code-based payments for face-to-face environment.
Transaction e-signing
Fast and convenient peer-to-peer payments for retail, healthcare, public transportation, entertainment, hospitality, and other industries, including QR-code-based payments for face-to-face environment.
Security
Fast and convenient peer-to-peer payments for retail, healthcare, public transportation, entertainment, hospitality, and other industries, including QR-code-based payments for face-to-face environment.
A Success Story of Blockchain for Supply Chain by Loginet
Loginet team has designed and developed a private blockchain network that enables end-to-end traceability of supply chain transactions for manufacturers, distributors, and stores, provides robust supply chain data protection, and facilitates proof of authenticity for inventory and assets to minimize the risk of counterfeiting.
Transaction e-signing
- Drag-and-drop workflow editor for creating custom workflows.
- Pre-built templates for typical workflows.
- Workflow-related emails and notifications.
- Workflow scheduling.
- Real-time dashboards with workflow status, progress, due dates, etc.
- Workflow analytics (e.g., workflows by type, complexity, average completion time).
- Workflow analytics (e.g., workflows by type, complexity, average completion time).
Looking to Develop Blockchain for Supply Chain?
Our team can help! We can also assess whether the integration project is worth your time and money and which integration scenario will bring max benefit.
Technology Stack for Blockchain Implementation
Big data
Web
BACK END
FRONT END
Mobile
Big data
Big data
The Challenges of Blockchain for Supply Chain
Challenge #1: Seamless integration with numerous data sources
We offer full cryptocurrency development outsourcing, dedicated teams and team augmentation to provide companies with the precise level of cooperation they need for quick and cost-effective implementation of their cryptocurrency solution.
Challenge #2: Formalization of business rules in smart contracts
We offer full cryptocurrency development outsourcing, dedicated teams and team augmentation to provide companies with the precise level of cooperation they need for quick and cost-effective implementation of their cryptocurrency solution.
Challenge #3: Blockchain adoptions
We offer full cryptocurrency development outsourcing, dedicated teams and team augmentation to provide companies with the precise level of cooperation they need for quick and cost-effective implementation of their cryptocurrency solution.
Challenge #4: Non-transactional data storage
We offer full cryptocurrency development outsourcing, dedicated teams and team augmentation to provide companies with the precise level of cooperation they need for quick and cost-effective implementation of their cryptocurrency solution.
Cost Factors for Blockchain-Based Software for Supply Chain
The cost of blockchain supply chain management software development varies greatly depending on:
- Drag-and-drop workflow editor for creating custom workflows.
- Pre-built templates for typical workflows.
- Workflow-related emails and notifications.
- Workflow scheduling.
- Real-time dashboards with workflow status, progress, due dates, etc.
- Workflow analytics (e.g., workflows by type, complexity, average completion time).
- Workflow analytics (e.g., workflows by type, complexity, average completion time).
Blockchain for Supply Chain Consulting and Development by Loginet
Blockchain for supply chain consulting
- Analyzing your business needs and eliciting requirements for a cryptocurrency.
- Analyzing your business needs and eliciting requirements for a cryptocurrency.
- Suggesting an optimal cryptocurrency type, architecture design and tech stack for the cryptocurrency solution.
- Suitable for apps with simple business logic, e.g., for holiday approval, event registration.
- Suitable for apps with simple business logic, e.g., for holiday approval, event registration.
Blockchain for supply chain development
- Analyzing your business needs and eliciting requirements for a cryptocurrency.
- Analyzing your business needs and eliciting requirements for a cryptocurrency.
- Suggesting an optimal cryptocurrency type, architecture design and tech stack for the cryptocurrency solution.
- Suitable for apps with simple business logic, e.g., for holiday approval, event registration.
- Suitable for apps with simple business logic, e.g., for holiday approval, event registration.
