The collapse of supply and demand, transport friction, labor shortages, and early signs of emerging trade protectionism in some areas, so that suppliers more and more difficult to protect the flow of goods and services in the global value chain. Despite the depth of the crisis may be unprecedented, but of the World Economic Forum (WEF) April 6 issued a report that the impact of the block chain technology for the mitigation of such destruction is essential.
Since the new pandemic crown the major economies in a lockdown, there is growing concern in global trade and supply chain system could collapse within weeks.
Rebecca Liao, co-founder WEF head of digital trading Fan Ziyang (transliteration) and the block chain project SKUChain and Executive Vice President claimed that the technology can provide critical supply chain visibility and production in normal times of crisis.
The Financial Times cited block chain Pang Ming was ¥ 47.6
buy
Why block chain of critical importance
The authors claim, so far, for fear of the cost of digitization is insufficient to justify the return of many global companies do not trade in the ubiquitous digitization of paper-based processes.
Therefore, the logistics network relies heavily on physical signatures and paper printouts, which requires personnel to personally appear at various locations, in order to maintain normal operations. One example is the "bill of lading", which is a detailed list of goods on board, but the law still requires a paper copy.
These paper-based operations only reduces the visibility, but also increases the risk of business interruption at the time, reducing the ability to respond quickly to changing conditions of. The authors claim that there has been a strong digital infrastructure (such as electronic signatures and electronic trading support) governments and companies are to weather the current storm better than the lack of such facilities in the government and companies.
However, cost is not the only resistance digitized. The company is clearly worried that there is no strong data privacy support visibility would damage its commercial advantage. They worry that can not control who has access to sensitive information about its internal operations, pricing and procurement. The report's authors explain how the block chain alleviate these concerns:
"After a proper manner established, the supplier can be reviewed directly on its own block chain node data sharing permissions. At the same time, their data can be safely distributed to other people block chain network, without having to like point to point as the center of the integrated system. "
Since the data is critical to the smooth operation of the value chain, the report points out, there have been financing plan, a profit can be realized by all parties access to performance and risk data. Here, block chains can support efficient and secure financial system, in the system, "so that the data can be shared self-sufficient":
"For example, buyers can use the payment commitments on the block chain instead of the letter of credit, and then later to pay suppliers, to reduce costs of goods sold, and the suppliers from the effects of the bankruptcy of their own. In turn, suppliers can faster recognition of revenue, and at a much lower financing conditions to replace its current supply chain financing arrangements. "
From the article: www.qgakbjs.com.cn
