Blockchain started as the backbone
for BitCoin. This new technology has, however, proven to have many different
applications due to its base function. Having the decentralized ledger allows
for the data to be recorded once and not changed and accessed by the
appropriate parties. The security features may also be upgraded with
encryption. One application for this has been the supply chain. One company
leveraging this has been the Orang Utan Coffee company. The company and coffee,
licensed and distributed in the UK, use this to allow retailers and consumers
to trace the coffee to its Indonesian roots. The person, to access this, has to
only access an app (Farmer Connect’s Thank My Farmer). The full product cycle
is included in the blockchain, from the field, processing, to the final product
sold globally. Growing the coffee beans, the process of getting this to market is
complex, however, this has been encapsulated into the blockchain. This also
provides the company and clients a new level of transparency into not only the
regions of their coffee, but also the intricate process of harvesting,
roasting, and shipping.
BLOCKCHAIN is a decentralized
digital ledger consisting of records called blocks that is used to record
transactions across many computers so that any involved block cannot be changed
retroactively, without the alteration of subsequent blocks. This is especially
beneficial for logs which cannot or should not be altered or to add a layer of
cybersecurity.
Please contact us when we may be
of assistance with showing you when and how to apply blockchain to your
business and processes.
Charles Parker, II; Principal
Scientist; MBA/MSA/JD/LLM/PhD/DCS (IP)
810-701-5511
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