them on the network, to be executed automatically as soon as those conditions are met without the need for external interventions, which contributes to improving the efficiency of transactions. system, speeding up operations, increasing trust between the parties participating in the system, and ensuring their rights.
Transparency: A key measure of the efficiency of supply chain systems is the ability to track the status of current goods or products, and publish and monitor updates in real time. Systems built on Blockchain technology achieve a higher level of transparency, as all system users can access commodity records and monitor updates on an ongoing basis. The property of not deleting data after publishing it prevents tampering with the system and ensures the accuracy of the information published for customers.
These characteristics, which are considered among the most prominent characteristics of blockchain technology, were capable of revolutionizing the supply chain sector and pushing interested parties to explore possible solutions. However, despite all of this, the fact that blockchain technology has not reached the required level of maturity gives companies sufficient confidence to adopt this technology. It was an obstacle to actually operating these solutions, as many systems are still under testing and experimentation, and companies are still waiting for the right time to take a step forward.
Written by Aisha Al-Jabri