What Are The Benefits Of Web3 In Supply Chain & Logistics?
web3 comes as the savior of the supply chain and logistics that furnish a secure and efficient decentralized environment.
In simple words, web3 streamlines and automates the complex process in supply chain management prevents human errors and saves cost, time and resources.
Hence, the demand for Web3 Supply Chain Development reaches an extent.
Web3 In Supply Chain comes with the following benefits
Benefits Of Web3 In Supply Chain & Logistics
The following are the factors that define How Web3 benefits Supply Chain And Logistics industry.
1. Transparent Traceability
Through digitizing the physical assets in the supply chain, Web3 provides high traceability and enhanced transparency with open data access by asset tokenization.
2. Trust & Co-Operation
The distributed ledger's immutable nature increases cooperation and trust by permitting the participants to view and access the data without modifying it. On the other hand, it lets businesses to maintain a record of their supply chain operation and transactions which permits them to fulfill their responsibilities.
3. Streamlined Workflow
Web3 lets participants to trace and manage all activities and transactions effortlessly. Additionally, a smart contract takes care of complex workflow and makes corporate work easy.