One of the greatest problems faced by companies with complex supply chains is a lack of transparency, which can make it difficult to pinpoint issues. This is an area where blockchain technology can shine because of the way that transactions are recorded and tracked, making it possible to monitor events in real-time and see what’s happening every step of the way.
Up Next in Blockchain
A future with autonomous vehicles is fast approaching, and with it, the idea that blockchain technology could connect automobiles and other Internet-of-Things (IoT) devices is getting its fair share of attention.
Blockchain Could Move Self-Driving Cars Into the Fast Lane
With autonomous cars on the horizon, blockchain startups are eagerly building IoT systems for the fledgling industry.
Four areas where blockchain technology aligns well with the Internet of Things: (1) supply-chain management; (2) devices that sell capacity or other services to other devices; (3) devices that sell sharing-economy services to humans; and (4) devices that sell or share data with other devices or third parties.
The Internet of Things and Blockchain Technology