Blockchain Supply Chain Use Cases | R3

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Blockchain for supply chain management: use cases and applications

Greater visibility into the origin and movement of goods and more accurate and timely supply chain data to address inefficiencies and risks in today’s global value chains. Without a way to synchronize information among multiple parties along the supply chain, each organization records its own version of the truth, leading to errors, high costs, and reputational and financial risks. What if buyers, suppliers, shippers, and other supply chain actors could transact in a trusted network that keeps everyone in sync, in real-time and in strict privacy?

What are the use cases of blockchain for supply chain? By leveraging blockchain in the supply chain, Distributed Ledger Technology (DLT) applications enable global trading partners to transact securely and with consensus over shared facts to increase efficiency, transparency and visibility. Blockchain use cases for supply chain include immutability into the provenance of goods, the elimination of reconciliation pain across multiple parties and the real-time visibility to perform track and trace analysis, assess risks and accelerate physical and financial supply chains. Discover how blockchain is revolutionizing supply chain and download Corda Enterprise for a free trial today.

Why Corda?

 

Smart contracts on Corda provide a single source of truth for supply chain records – these can be verified by all stakeholders, delivering transparency to all parties

 

As Corda is a permissioned blockchain, regulators can access information about the supply chain in a secure environment, reducing penalties for noncompliance

 

Parties can capture and verify the origin, quantity, movement, location and transfer of materials, raw ingredients and finished products on-demand

 

Gain control and complete visibility of your supplier network—including shipping, logistics, insurance, and more—enabling your business to grow faster and more profitably

 

Maximize efficiency by understanding the location and flow of products within your supply chain—from the stage of raw materials all the way to post delivery

 

Streamline record-keeping and reporting systems to ensure reliable manifests, bills of lading, certifications and more

Testimonials

R3’s high quality market proven and well supported Corda Enterprise solution plays an important role in our Bullion Integrity Ledger™ application. The state-of-the-art blockchain technology enabled us to build the unique combination of product traceability, data integrity and members confidentiality for our solution to the bullion market.

Urs Röösli

CEO, aXedras Ltd.

Success Stories

aXedras

The aXedras™ Bullion Integrity Ledger™ digitalizes the precious metal value chain all the way from miner to investor—boosting provenance tracking, regulatory compliance and product integrity while reducing transaction times, manual processes and reconciliation. Powered by Corda Enterprise, the solution enables all parties to dramatically increase the efficiency and transparency of trading physical commodities while also maintaining strict confidentiality.

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Contour

Contour is the digital trade network of the world’s leading trade banks, harnessing Corda Enterprise to bring transformational efficiencies to documentary trade. Following 14 public live pilots in 14 countries, Contour has proven to reduce end-to-end processing time for LC’s by 90% or more, simplifying the process for all participants and enabling new business opportunities for banks, corporates and trade ecosystem players. After two years of extensive testing, Contour moved into live production in October 2020.

Digital Venture's Blockchain for Procure to Pay

Digital Venture's supply chain management platform - Blockchain for Procure-to-Pay (B2P) - powered by Corda Enterprise - is poised to revolutionize the efficiency of global trade. It is the world’s first fully integrated blockchain solution for Procure-to-Pay.

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