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What’s Blocking Supply Chain Blockchains?

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.
  • Security.
  • Data privacy.
  • Setting agreements with all supply chain partners.
  • Responsibility issues in case of actions that are taken by devices.

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Enrico Camerinelli

Enrico Camerinelli

Sr. Analyst

Aite Group

Member since

26 May

Location

Boston

Blog posts

72

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This post is from a series of posts in the group:

Innovation in Financial Services

A discussion of trends in innovation management within financial institutions, and the key processes, technology and cultural shifts driving innovation.


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