Blockchain is a decentralized record-keeping technological solution. The key feature being that it is publicly distributed, hence, eliminating the need for any intermediaries. The technology became popular after the success of cryptocurrencies like Bitcoin which has been endorsed by many financial institutions and successful businessmen. Blockchain was the underlying idea behind how such cryptocurrencies work and it is said to be revolutionizing the entire internet step by step. Many companies are still learning, testing and building blockchain applications across various domains to see what works best and how a particular function can be made smoother using blockchain techno. So, it comes as no surprise that this technology has been a widely researched topic for its immense potential to change the way supply chains currently function. 

The most important features of blockchain that makes it a perfectly reliable model for logistics is the fact that the data is time-stamped and it is very difficult to reverse or make changes to the  ‘blocks’ as it is based on consensus. Any changes to be made will have to be approved by all or majority of the parties in the distribution system. These features make it a transparent and trusted system to work with. In fact, many research studies that have been conducted showed a positive response to blockchain acceptance in a lot of sectors. But that being mentioned, this is a new research avenue and it is still at its infancy. Yet so powerful, blockchain could trigger a much more sophisticated supply chain ecosystem thanks to heightened authenticity, visibility and room for more personalized products. Multiple tools and services can also be integrated or individually leveraged. One of the world's largest ecommerce giants, based out of China, has published countless patents on blockchain applications in hopes to achieve economies of scale in e-commerce distribution. Betting big on this budding technology, E-commerce and retail giants wish to revolutionize e-retail and gain an edge over its competitors at the global level. A few famous use-cases of Blockchain technology in the supply chain include improving warehousing efficiency, traceability of goods and transportation and also saving time by streamlining the supply chain. Data and Analytics play a huge role when leveraging blockchain solutions.    

Blockchain could be the answer to the resilience organizations are striving to achieve despite a fragmented supply chain as it promises to be the future of retail in terms of supply chain management efficiency. However, a lot of factors need to be addressed before implementing it and since it is at its infancy, it will take a lot more time and resources for customizing and perfecting the technology towards an organization’s needs. But it could also be a waiting game until some technological giant has rightfully leveraged blockchain technology for integrating the supply chain system.