Supply chain blockchain Proof of Concept (PoC) initiatives are showing that further progress is needed on the DLT technology before it will be ready to support production-grade applications in large-scale and mission-critical global supply chain infrastructures.
While my research continues, I want to share my initial findings on what holds back PoCs to turn into production. I hope contributors will help me fill this list:
- Get different parties in an extended supply chain to participate: banks, regulators, customs and all parts of the trade cycle.
- Get everyone from the chain with the relevant permissions/trust.
- Back office applications must be upgraded to migrate from batch to real-time and feed the blockchain with real-time updates.
- Internal cultural issues.
- Find the common standard on the network solution.
- Ensure smart contracts are legally enforceable on a global basis.
- High cost of replacing legal infrastructures.
- Data privacy.
- Setting agreements with all supply chain partners.
- Responsibility issues in case of actions that are taken by devices.