Blockchain is among the latest technologies, which promises some prominent features solving security, decentralization, immutability, and automation-related complexities. By 2021, the gross market share of blockchain technology has already crossed $4.9 billion, expecting more than $50 billion in market size by the end of this decade.
Though market leaders have more exposure to blockchain technology, because of its expensive establishment cost, startups are also emerging into the blockchain arena to solve different business solutions. As startups realize the long-term benefits of blockchain technology, they’re leaning more toward it. Blockchain technology is undoubtedly more expensive than other business and industry management solutions, but only for a short time. Implementing blockchain at the center of business management provides automation, saving time for human resources to contribute to the other parts of the business.
Blockchain for supply chains facilitates advancement in logistics, enhancing cost efficiency and improving collaboration between involved parties. The finance aspect associated with the supply chain can be improved through blockchain integration in the finance parts.
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Top Supply Chain Startups That Are Using Blockchain Technology
Today in this blog, we’ll discover and understand about 20 supply chain startups using blockchain technology to provide better services.
Yojee Limited (ASX: YOJ), is a cloud-based software as a service (SaaS) logistics platform that facilitates the flow of freight movements into a single ecosystem, making the complex process of managing land transport simple and accessible to all players whilst reducing carbon emissions for a greener planet.
TE-FOOD is a whole-chain traceability solution, covering all logistics and food safety activities and data management of the supply chain. It provides cost-effective software and identification tools to make livestock and fresh food supply information transparent. Te-Food is throughout the whole process from planning to maintenance.
Based in Antwerp, T-Mining makes maritime logistics processes like Secure Container Release more secure and efficient. By using decentralized technologies such as blockchain and implementing concepts like Self Sovereign Identity (SSI) and Commercial Privacy, they provide the industry with easy-to-use instruments to remain in control of their data.
Suku is on a mission to accelerate the adoption of real Web3. To get there, Suku is creating an ecosystem that interconnects web3 communities, powers unique experiences, and utility, and provides simple tools to better onboard users into Web3.SUKU allows users to engage and earn across our and our partners’ platforms.
ZEGO makes measurably clean food with traceable transparency that meets most dietary needs and educates and inspires consumers to advocate for toxin transparency from all the brands they use. Every product they make has a QR code that links the consumer to its purity tests for over 500 toxins like glyphosate, heavy metals, and pesticides.
OriginTrail is the first purpose-built protocol for supply chains based on blockchain technology. Blockchain technology has huge potential to decentralize trust in supply chains and bring enormous benefits. To unlock this potential, the OriginTrail protocol was designed to tackle the prime challenges limiting the exchange and integrity of data in product supply chains.
7. Peer Ledger
Peer Ledger uses cutting-edge blockchain technology to help companies collaborate to maintain situational awareness and one-shop data capabilities to protect human rights, improve environmental performance, and significantly reduce key risks, such as counterfeiting, conflict-financing, and safety, in their supply chains.
8. Blockhead Technologies
Blockhead Technologies offers highly customizable and interface-agnostic SaaS solutions for clients in the fuel and mining sectors. Their open architecture is designed for easy integration and scalability. Blockhead Technologies solutions are designed to provide secure, transparent, and comprehensive insight into your company data.
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CargoCoin is designed to be a smart contract & cryptocurrency platform, decentralizing global trade and transport. The eco-system will facilitate and optimize the interaction amongst traders, freight forwarders, ship owners, booking agents, and other parties involved in the international trade and transport of commodities and cargoes.
10. The CargoX
The CargoX Platform for Blockchain Document Transfer (BDT) gives you the world’s easiest way to upload documents and provides the tools for secure and instant transactions of those documents. What is new is that you can also transfer ownership of the document!
Chronicled’s first industry revenue management solution, Contracts & Chargebacks, automatically settles chargeback claims between pharmaceutical manufacturers, distributors, and group purchasing organizations to ensure drug pricing accuracy for healthcare providers, pharmacies, and other dispensers. It enables automation, trust, and automatic settlement for transactions between companies in the Life Sciences industry.
12. WAVE BL
WAVE BL is a blockchain-based digital courier platform that mirrors the traditional process for transferring original paper documents — electronically. Our solution enables instant, encrypted, and authenticated transfer of Bills of Lading and other unique digital documents. WAVE BL’s mission is to create a paperless world.
At Morpheus.Network, they are intensely focused on helping companies and Government organizations remove barriers to optimize and automate their global supply chain operations. Morpheus.Network uses blockchain technology to create a transparent, and efficient platform to streamline and automate the global supply chain.
Konexial creates superb technology to improve the profitability of carriers through edge computing telematics, AI-powered video safety solutions, and Live Supply Chain visibility. It provides technology to the transportation industry through the PaaS (platform as a service) model featuring fleet management, video, and safety management, asset tracking, and fuel savings programs.
Grainchain automates the system of measuring the commodities coming into silos and storage facilities, providing accurate measurement, tracking, and accountability for soft commodities. IT systems such as SiloSys are increasing in popularity worldwide because they eliminate the manual processes of weighing and providing documentation for agricultural yield.
OpenPort is a pan-Asian start-up on a mission to make trucking, logistics, and supply chain more efficient in Emerging Markets through its OPEN, neutral, and AI-based platform. OpenPort’s open, neutral, and robust systems allow complete and easy integration with its clients’ ERP systems, providing visibility, reliability, availability of trucks, security, trust, higher cash flows, and stronger sales to its clients.
Akiri is a cloud-based network designed to address today’s data liquidity challenges and facilitate the simple and secure movement of information between the diverse participants in the U.S. healthcare economy. the Silicon Valley-based business formation and commercialization enterprise whose founding investor and primary strategic partner is the American Medical Association (AMA).
LifeGraph from BurstIQ takes the complexity out of managing sensitive human data freeing you to build trust through hyper-personalized health, work, and life digital experiences. Powered by an innovative Web 3.0-ready blockchain platform, LifeGraphs equips your business with trusted, secure, and intelligence-driven data ecosystems.
Guardtime is a team of over 150 cryptographers, developers, and security architects, with decades of experience defending networks from nation-state attacks. Their business model is to build partnerships with companies in every industry, build products, and go to market.
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Going through the supply chain model of these 25 startups is enough to give a proper market perspective of how blockchain works and the current blockchain usage all over the market. Moreover, how blockchain technology will shape the supply chain industry in the future can be understood through these examples. Surely, these startups are playing a potential role in the blockchain-infused supply chain industry.
SoluLab, a leading provider of blockchain solutions in the supply chain sector, offers a comprehensive range of services to enhance transparency, traceability, and operational efficiency. Their expert team of in-house blockchain specialists develops cutting-edge solutions tailored to meet industry standards, ensuring seamless sharing of transaction data and history. By leveraging SoluLab’s services, businesses can improve problem resolution, establish trust, and forge stronger partnerships within the supply chain ecosystem. To explore new avenues of creativity and success, interested parties are encouraged to schedule a consultation with SoluLab’s professionals today. Contact SoluLab now to embark on your journey towards optimized supply chain management.
1. How does blockchain technology benefit supply chain startups?
Blockchain technology benefits supply chain startups by providing transparency and traceability throughout the supply chain. It ensures that every transaction and movement of goods are securely recorded on an immutable ledger. This transparency reduces fraud, errors, and delays while increasing trust among all stakeholders. Startups can also leverage smart contracts on blockchain to automate processes, such as payments and compliance checks, saving time and costs.
2. What are some examples of supply chain startups using blockchain?
There are numerous examples of supply chain startups utilizing blockchain. Some notable ones include VeChain, which focuses on product authentication and traceability; ShipChain, which enhances shipment tracking and transparency; and Provenance, which ensures food safety and provenance tracking.
3. How does blockchain technology improve supply chain security?
Blockchain technology enhances supply chain security by encrypting data and decentralizing it across a network of nodes. This makes it extremely difficult for malicious actors to tamper with data or compromise the system. Any attempts to alter records would require consensus among the majority of network participants, which is highly unlikely.
4. How does blockchain technology reduce supply chain costs?
Blockchain reduces supply chain costs by eliminating intermediaries, automating processes, and reducing the risk of errors and fraud. Smart contracts execute predefined actions automatically, reducing the need for manual intervention and associated costs.
5. What is the role of transparency in supply chain blockchain solutions?
Transparency is a cornerstone of supply chain blockchain solutions. It ensures that all participants have access to real-time, unalterable data regarding product origin, status, and movements. This transparency builds trust among stakeholders, enhances accountability, and facilitates quicker dispute resolution.
6. How can SoluLab help businesses in the supply chain and logistics industry leverage blockchain technology?
SoluLab assists businesses in the supply chain and logistics industry in leveraging blockchain technology by providing custom blockchain solutions tailored to their specific needs. This includes designing and implementing blockchain networks, developing smart contracts for automation, and integrating blockchain with existing systems for seamless operations. SoluLab’s expertise in blockchain ensures that businesses can harness the full potential of this transformative technology to enhance efficiency, transparency, and security in their supply chain and logistics operations.