How Blockchain Enhances Supply Chain Traceability and Accountability
Blockchain technology revolutionizes supply chain management by providing unparalleled traceability and accountability. By leveraging its decentralized ledger, each transaction and event within the supply chain is recorded immutably and transparently. This enables stakeholders to trace the journey of products from their origin through every checkpoint in real-time, ensuring authenticity and reducing the risk of fraud or errors. Moreover, smart contracts embedded in blockchain automate processes like payments and compliance, enhancing efficiency while maintaining integrity. Ultimately, blockchain enhances supply chain traceability and accountability by fostering trust among all parties involved, paving the way for a more secure and reliable global trade ecosystem.