3 predictions for blockchain in the supply chain in 2019

When the supply chain conversation turns to blockchain, the laundry list of capabilities and benefits is often preceded by the word “could.”

The technology is here. We understand what an immutable ledger could do for supply chains, but widespread adoption is still in the distance.

In early 2018, a Gartner survey put the number of CIOs (across all industries) with actual blockchain implementation at their organizations at 1% globally; 8% were experimenting, and 77% weren’t interested.

Further, the Gartner Hype Cycle predicts the time for larger, focused investments in blockchain will begin in 2022 and large-scale, global value-add won’t begin until 2027.

Read the full story at www.SupplyChainDive.com.

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World’s largest grain traders partner to digitize transactions

The world’s four largest grain traders are banding together to replace paper-based processes —namely contracts, invoices, and payments — with digital ones to increase reliability, efficiency and transparency, according to a press release.

Archer Daniels Midland Company (ADM), Bunge, Cargill, and Louis Dreyfus Company (LDC) have teamed up to develop standardized tools to digitize agrishipping with the initial goal of automating post-trade execution processes.

“The companies also seek broad-based industry participation to promote global access and adoption,” reads a statement jointly issued by all four players.

Read the full story at www.SupplyChainDive.com.

 

Walmart asks lettuce suppliers to trace products using blockchain

Walmart is turning to blockchain to trace leafy greens, an increasingly common move for any industry that needs to increase visibility from coffee to shipping containers.

“Suppliers will be required to capture digital, end-to-end traceability event information using the IBM Food Trust network,” according to the company. The letter to suppliers describes the software as both user-friendly and low-cost.

Read the full story at www.SupplyChainDive.com.

Inside CBP’s ‘fail fast’ approach to blockchain

On August 15, news broke that Customs and Border Protection (CBP), would be one of the first public entities to test blockchain’s efficacy as a tool to streamline government work — specifically the business of international trade.

The experiment, set to begin in September, will focus on the agency’s free trade agreement certificate verification process — starting with NAFTA and CAFTA goods — said Vincent Annunziatio, CBP’s Business Transformation and Innovation Division Director on a call with reporters, a week after the initial announcement.

Read the full story at www.SupplyChainDive.com.