Blockchain for Supply Chain Transparency & Traceability - Simardeep

[@rosanaorengo1867]

the best video of explaining how blockchain works in the supply chain I have found in the whole KZbin 👍🏼👍🏼👍🏼

[@abuda2852]

588th subscriber here just because of your simple and clear explanation. "The art of simplicity puzzle of complexity"...

[@bobdaniell8954]

There is no question that blockchains will minimize supply chain risk management.

[@MH-ib5wr]

Damn good video! I have never seen such a good explaination of blockchain

[@joydeepsharma1]

Worth watching this video.

[@holisolsupplychainmanageme9202]

New technologies are presenting promising opportunities for improvement across the supply chain. Using blockchain in the supply chain has the potential to improve supply chain transparency and traceability as well as reduce administrative costs.

[@SilviaGoodermote]

Thank you so much for this amazing video! I have a quick question: I have a SafePal wallet with USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). Could you explain how to move them to Binance?

[@ShaanGola]

Good piece of information shared to heads up on what is blockchain !!

[@kevinku2021]

blockchain is decentralization and it means it may hurt the benefit of many MNC, like many international banks and some gov like China hate bitcoin d blockchain as this take away the power from them. It is not just a technical problem, it is political and business too. At least there need a standardized solution inverted by some university research team and adopted by large company which have impact to global supply chain, otherwise it is just a theory

[@undpsingaporeglobalcentre4404]

If you're interested in exploring this topic further, watch our video here where we spoke with experts on how they're using blockchain for supply chain traceability: kzbin.info/www/bejne/o4nTm5JvpK2IZ9k

[@buihung9365]

Yes, blockchain is really helpful for supply chain sector

[@ashishraul1991]

Very well explained the crux of Blockchain

[@arushikhandelwal5039]

i want to know that using which app or software you made this video?

[@bobman6966]

One of indispensable use cases of blockchain is cryptocurrency. However security is paramount when you involve in crypto. An easy way is to use decentralized wallet such as atomicwallet.io. You worry less with your funds in atomic.

[@arghadutta4480]

Who’s managing this shared database? And how big is this database as I can see you mentioned that every transaction related to everything sold or purchased will be recorded in a Blockchain

[@kevinku2021]

There is no central database for blockchain. For Bitcoin as a example of blockchain implementation, each block store one transaction detail in 1MB size and the total volume of all blocks are keep increasing. But as the computer storage capacity, network speed and hardware processing speed increase with lower cost, that may not be a real problem. of course i am not an expert of this area

[@bonniehouse2378]

Should block chain be needed to all supply chain management? If I'm buying a shirt I don't really see myself validating all info because it's time consuming. Imagine all plain t shirts have a record in the database, that's not cost-effective anymore. Online data storage is costly right? Hope you enlighten me with this, thanks.

[@kevinku2021]

i would say not each shirt has its own records, it should be each set of the same products (e.g. same production date of same factory, same cargo, each 10000 pieces) share the same set of records.

[@veritascognitio5183]

But you don't validate anything by yourself, the algorithm takes care of this task. Data will need to be stored with or without the use of blockchain. Blockchain just makes sure there is no fraud and makes it seamless, private and quick as well as error free without the need of human manipulation.

[@yoyounika]

Sir I love your video

[@doodelay]

But the only way to record transactions on a blockchain is to use that blockchain's native currency right? The ledger will not update if one exchanges the product using dollar bills instead of say, btc. Thus, the blockchain ledger can become unreliable if all suppliers don't agree to use the same currency.

[@JosephJones757]

Uh, no.

[@govardhananks8815]

I need implementation of blockchain

[@bantichinna3636]

R u work in brain company

[@JCredible86]

This is what VEN AMB AND WaBi Does WTC too

[@lakews]

Hi Simardeep, we run am global import export business out of Switzerland, Swaye Capital Management. What is the best way to reach you? Wanted to discuss a few things.

[@eoinmurphyeoinmurphy669]

Music is mental

[@littlepigism]

I respectfully disagree: blockchain cannot be used in physical assets. Anyone can temper the physical asset and therefore blockchain's cryptographic features cannot be used to track them. Blockchain is just an implementation of a distributed ledger. A ledger is a necessary but not sufficient condition to track physical goods.

[@jordgreer]

littlepigism Ofcourse the asset can be altered, but I believe that the blockchain would be at least able to detect who is responsible for anything that happens to the physical asset.

[@SoorajKumarR]

Jordan is right. Blockchain's major utility for physical assets will come during the Supply Chain phase. For smarter physical assets that have sensors (connected to the internet) at every nook & corner, Blockchain will apply even when the product is being used at a customer's location. How much of that data needs to be tracked on Blockchain is a whole another matter.

[@kevinku2021]

please dont mix them up. a block containing a transaction detail need to be inserted to the chain by a device have processing power. the digital info stored on a phy asset maybe equal to a file of bitcoin. if you print the content of a bitcoin file to 10 physical papers, you still only have 1 bitcoin. store that file to the chip of phy asset is just iOT, how to process those blocks in the chain is a big question. all shops? all warehouse? all cargos with a computer? all vending machines?

[@veritascognitio5183]

@@kevinku2021 Yes, all places, just like almost everyone has a mobile phone. Physical assets are tracked with an NFT.

[@paroxymal7688]

I got my project rejected on supply chain using blockchain, they said in India no one wants transparency.

[@veritascognitio5183]

what idiots. then no one wants a corrupt country, how about that!

[@swastisrivastva4287]

But the bitcoin transactions are anonymous, thats the whole foundation of bitcoin; their anonymity. Why would you associate bitcoin technology with the supply chain world and the tracing and tracking concept . Yes the blockchain technology I agree can be transparent but not bitcoin. Correct me if I am wrong..

[@SimardeepKochar]

Blockchain is essentially a technology like the internet on which various applications can be performed that include any kind of transaction- financial transaction or physical product transaction in a supply chain. More than anonymity, blockchain ensures immutable records. Bitcoin transactions are not strictly anonymous- they are 'pseudo-anonymous', which means there is a specific hashcode associated with one entity. So you can't track the name or location of the person but you can be sure that it is the 'same' person looking at the hashcode. Moreover, supply chain companies use 'Private Blockchains' and not 'Public Blockchains' like Bitcoin or Etherum. Private Blockchains are managed under a company's supply chain and hence they can enable a customer to see the entire tracking history if they want. Hope this helps.

[@shahulbhai]

hello swasti mam..can you teach me how block chain supply chain program is applied?

[@matteopecar499]

Hello, sorry I am late to the party but I just ran into this video: what you say it's true. However, when using private blockchain, the immutability concept is as true as with Google or Amazon servers.... also, the problem when leaving the digital domain with blockchain is that you have to trust the person entering whatever data. Comments?

[@kevinku2021]

@@SimardeepKochar yes, public and private blockchains are different, but your video may let people think it is the public one

[@kevinku2021]

@@matteopecar499 you are correct. For instance, Coca Cola using its vending machines (assuming they have enough processing power) to implement private blockchain. If anyone steal or hack a vending machine, the data (money, drinks...) will be stolen as well. In the real world, you cannot claim that you take one bitcoin from me if you didnt, but if you hack to my PC to get the bitcoin file, you will own the bitcoin

[@TheSilkoth]

The company c5mi is driving this.

[@kevinku2021]

are you one of the employee? hahaha

[@JeremyFisher711]

I have no idea why you need a blockchain. Why not just have a public ledger that all supply chain participants can see and edit themselves? Plz help me understand!

[@SimardeepKochar]

Great question Sheldon! Yes, a public ledger would be helpful. But that doesn't ensure transparency as records are editable. Blockchain is, in fact, a shared public ledger with immutable records and transactions that ensure transparency throughout the supply chain process, source to end consumers. Also, smart contracts for Blockchain add another layer to this process by allowing automated blockchain transactions

[@JeremyFisher711]

thanks for your reply! I still don't understand. One could easily build an app with the features you have described. Automation, immutability, public.

[@Uniguide1]

Hello, Blockchain allows transparency, but also privacy - it can be pseudo-anonymous. So, it can show that a source in a supply chain is trusted while not giving away the actual name of that source. Many product developers/manufacturers do not want to reveal their actual suppliers, but they do want to be able to show that their supplier adheres to a set of standards, is certified, etc. It's sort of like buying a painting from someone you don't know personally, but you can be assured that the painting was not stolen or that it's not counterfeit. If it was a fake, somewhere in that chain, something would break when the fake was introduced.

[@vetreferee]

Good Questions Sheldon. You have brought up a good point which wasn't answered. I suggest you have a look at this discussion by Andreas Antonopolous - Block Chain/Crypto Expert. He asks the question whether all we are really doing is building a good database. kzbin.info/www/bejne/iX6ogH56i72fi9E

[@annb7016]

Food safety issues can be brought by factors like procurement issues（fake raw ingredients），underperformed logistics （coldchain control i.e. temperature，humidity…）inventory management（materials expires）sometimes the information barriers between two nodes of the value chain may cause the safety issues，sometimes ppl just edit the record to pretend the problems behind the supply chain for profit. Similar to manufacture supply chain，which the parts status information like rust-remove and spray are critical to the whole enginee‘s performance and user's safety. The distributed ledger feature gives the blockchain highly reliability and leaves the transparent records trust-worthy，which is bcz the fact that one can edit the tracing data only if he can control over 51% of the blockchain nodes，which is still not 100% guaranteed but improved the trust throughout the whole supply chain significant compared to the past.

[@wayneeastley6758]

Video good. Music awful.

[@RobertBirnie1]

It is good except for the annoying music

[@antonieng]

I found the music very engaging, I liked it.

[@vladithegreatest293]

Hand in hand with RFID

[@capitalreleases8690]

A

[@ML-zb6bv]

annoying music

[@sneakerhead567]

No one cares to check the origin of their products....