Building a Case for Blockchain

Building a Case for Blockchain

Asset-tracking and traceability are the top uses for distributed ledger technology (see chart), highlighting the need for improved management as supply chains evolve from linear models to multitiered networks, says a PwC report.

About 52% of business leaders say asset-tracking and traceability are the best applications for blockchain technology. Among those respondents, 52% identify trade finance as another major application. About 30% of respondents indicate four or more applications, indicating blockchain use cases are interrelated, the report says.

Tracking is consistently cited as a major use case of blockchain technology because supply chains have evolved into multitiered networks of suppliers, partners, and customers, the report says. Nearly 50% of respondents say blockchain adoption will grow in the next three to five years, and companies are optimistic about those prospects, says PwC.

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