How can Blockchain Help?

Traditionally, the data-sharing process to detect disruptions, assess the risks, and take mitigation actions are manual across the supply chain, between physical locations, and disparate systems. When adverse events occurred, manual processes are needed to investigate impacts to shipments and locations. Many times, supply chain managers are forced to base decisions on very little information. The entire system is expensive, slow, error prone, and highly inconsistent, which can lead to negative impacts on customers when the estimated delivery is wrong or if they are not notified about delays early enough. What is there was a better way to implement data so that the supply chain could be better connected?

The core technology of blockchain is a decentralized ledger, which records and secures data shared among multiple entities.

In supply chain management the focus is on allowing a set number of known entities to conduct transactions with one another directly while improving security, ensuring contract compliance and reducing costs. Instead of coins such as in cryptocurrencies, supply chain blockchains “tokenize” a variety of transaction-related data, creating unique and readily verifiable identifiers for purchase orders, inventory units, bills of lading, etc.

Every participant in the chain has their own unique digital signature, which is used to “sign” tokens moving through the chain. Every phase of a given transaction is recorded in the transfers between stakeholders, providing a built-in audit trail that can’t be tampered with since everyone gets their own copy of the chain. A bad actor tinkering with their own chain would also have to find a way to make the same changes to subsequent links in the copies maintained by everyone else. This provides and immutable, trustless system for organizing data.

Companies such as Boeing, Club Brugge, TOKs, and more rely on SIMBA for their blockchain projects

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Blockchain has the potential to increase the speed and efficiency at which enterprises are run. Learn how business decisions will benefit from the instantaneous tracking of blockchain.

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Using Blockchain to Remove Supply Chain Challenges

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USE CASES FOR BLOCKCHAIN

Supply Chain Early Warning System

Dow Chemical manufacturers plastics, chemicals, and other products with employees in over 160 countries. With a vast supply chain to monitor, Dow’s CIO needed to find a solution that was not only immutable, but made data-sharing easy.

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Tracking Cost, Insurance, and Freight with Blockchain

Cost, Insurance, and Freight  is an expense paid by a seller to cover the costs, insurance, and freight against the possibility of loss or damage to a buyer’s order while it is in transit to a port. Blockchain can provide visibility, risk management, and immutability to this complex system.

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More Ethical, Sustainable Sourcing

Toks Restaurantes, SIMBA Chain and the University of Notre Dame launched a blockchain project with Toks’ coffee grower-suppliers to support a completely trackable, auditable “farm to Toks” supply chain. Mexican coffee farmers have seen their income grow by as much as 700%!

SIMBA Platform for Supply Chain

This vision is made possible using the SIMBA Chain Enterprise Platform, which is a comprehensive, fault tolerant, secure environment that is focused on providing scalable and sustainable production applications.  SIMBA revolutionizes the way developers can integrate blockchains and smart contracts into enterprise applications and packages this powerful approach using simple concepts and interfaces to aid in the development process.  SEP’s graph model represents relationships between data, smart contracts and blockchains. The below flow illustrates the SIMBA approach for tracking parts and could also apply to NFTs, DeFi and other verticals where complex orchestration between disparate data and smart contracts is valuable:

SIMBA Enterprise Platform Flow

SIMBA’s UI or annotation tooling can take cross organizational data assets, along with their transitions, and build a connected structured relationship graph, which is efficiently stored in smart contracts.  Being packaged with such semantics, on-chain data can be interpreted using relationships and graph queries for more advanced insight. The relationship graph can also link smart contracts together, to solve versioning issues and even to connect multiple blockchains into an application to provide sustainability for production enterprise applications.

Supported Blockchains

Ethereum

Ethereum

Quorum

Quorum

Stellar

Stellar

RSK

RSK

Binance

Binance

Avalanche

Avalanche

Hyperledger Fabric

Hyperledger Fabric

Hyperledger Burrow

Hyperledger Burrow

Hyperledger Sawtooth

Hyperledger Sawtooth

SIMBA Chain provided the communications and messaging layer between disparate systems and entities along with a non-repudiable audit trail, all within 30 days from the idea stage to going live.

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