Blockchain for Inclusive Growth and Democratising Value Chain (15/09/2021, 4:00 PM)
Blockchain technology is aimed at securely storing and sharing information on transactions across a network of users, and can serve to improve proof of integrity along the value chain, including quality attributes, and environmental and social compliance to standards. Blockchain is able to provide real time, accurate and complete interconnected data on provenance, quality, safety, transportation, certification and product ingredients. Integrated and Inclusive systems that are centered around key stakeholders and members can provide much value to business ecosystems. One of the biggest benefits is its shared nature, whereby key data transactions validated in a given point of the supply chain can be monitored at any point in time. The power of AI and ML based technologies can be leveraged upon to connect producers, vendors, manufacturing units/processing units, and packaging firms. This allows buyers and sellers to interact without an intermediary in a secure and trusted environment. Through Blockchain technology we can aim to democratize both urban and rural business ecosystems in India. There have been many attempts for inclusive and sustainable development using blockchain technology.
