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Hi!

This time we’re talking about blockchain technology.

It’s tamper-proof and currently used mostly in cryptocurrency, but there are many new applications in the pipeline that you can use in your small to medium business.

In our last lesson, we looked at proof of identity, which is far more secure with blockchain than with traditional methods.

Today we’ll discuss your shipping process and your supply chain.

The shipping process is often bogged down with tons of paperwork, especially if you deal with overseas suppliers.

Providing essential information through the blockchain can eliminate much of that paperwork.

Besides that, tracking the shipment through blockchain allows you to instantly know if there is a delay in the shipment and to react in a timely manner.

The fact that blockchain is a tamper-proof technology is invaluable in your shipping process.

There’s no way for a supplier to claim they shipped an item if they didn’t, or to claim that your products were late arriving.

You’d be doing yourself a favor if you looked into blockchain technology for your shipping process.

And since you’re validating your products and your supply chain with blockchain, why not extend that verification to the whole supply chain?

This way you can track where each part of your product is coming from and prove to customers that your business’ supply chain is clean.

Ethically conscious customers will be happy to purchase products that had nothing to do with child labor or inhumane working conditions.

Environmentally savvy customers will appreciate your proof that the tuna you sell is harvested sustainably or that your paper products really are recycled.

In our next lesson, we’ll look at intellectual property and advertising.