 The year 2017 is marked as the year of most talked technology called Blockchain. It is called by world wide companies like IBM as "Tomorrow's Value Chain". Companies are talking about "how blockchain technology will impact value chain for retailers and consumer goods manufacturers". They say Blockchain "drives visibility, trust and efficiency". They say Blockchain technology "as a shared ledger allows the retailer, supplier and transport companies to work off the same data - a single version of truth as each partner updates the block, the trusted, real time data can be used to optimise forecasting and transportation planning". They say "by creating a chain of data that can not be altered, blockchain is well suited for tracking high-value luxury goods and other items where buyers want full insight into the origins and ownership trail of the goods". They say "by 2018, we expect substantial momentum in blockchain implementations for consumer products and retail companies globally. By 2020, we expect that nearly two-thirds of the retail and consumer goods industries will have blockchains in full production". IBM Whitepaper The article in Forbes gives a bit of insight as to what Blockchain is: "Everyone’s talking about blockchain, but you’re still not entirely sure what it is, don’t worry, you’re not alone. It’s something that Jack Dorsey, the CEO and chairman of Square and CEO of Twitter, described this week as the 'next big unlock,' and something that, according to Dorsey, is normally applied to accounting terms but has the potential to 'be applied to so much more.' ” Recommended reading on Blockchain |