What are the applications of blockchain technology in supply chain?

The application of blockchain technology in supply chain first provides credit guarantee. Blockchain records the circulation information of commodities, which can prove the authenticity and reliability of commodities and their circulation, thus making a comprehensive evaluation of the effectiveness of enterprises in the chain and becoming an effective guarantee for enterprise bank loan credit, financing credit and transaction credit.

First of all, the blockchain can time stamp all transaction data in the supply chain and cannot be tampered with at will. Even if the transaction data of a node can be tampered with, it cannot be an absolute monarch. Therefore, the blockchain solves the bank's doubts about tampering with corporate information. For some micro-enterprises, as long as the credit is good, the possibility of lending to banks will be greatly improved.

Secondly, the information between upstream and downstream enterprises recorded in the blockchain, through effective integration, can not only provide support for enterprises in production, sales and other links, but also provide analysis of customer preferences for downstream enterprises, thus formulating targeted services.