How will tokens and smart contracts bring blockchain to supply chains?
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Tokens and smart contracts have strong points to bring blockchain technology to supply chains because they seek to achieve:
1. A fair, global and transparent access to trade finance [payments, insurance, collateral security etc]
2. Crystal clear market transparency [decentralized, global and open market places]
3. Zero duplication of asset or product ownership rights [+ smart intellectual properties]
4. Sound, secure and reliable communication [timeliness, data accessibility, accuracy and temper-proof data storage]
5. Supply chain visibility [end to end supply chain product traceability]
6. Incentivisation [what is in it for me]
7. Automated processes with IoT and AI [data capturing, P2P & M2M data sharing, processing, analysis, alarms etc]
8. Driving costs and waiting time to zero [do it without intermediaries ans paperwork]
9. Accountability and responsibility [standard protocols, ricardian and smart contracts]
10. Trustlessness [stakeholders trust secure and immutable blockchain based solutions with decentralised governance models than centralized, bureaucratic and human controlled systems]
11. And more…..