Emergence of Blockchain Technology and Smart Contracts in Supply Chain Management

Abstract

Mother of all Bitcoins and cryptocurrencies but why haven’t we seen the latent potency this technology could bring to the world in this era. Blockchain is THE revolutionary change which is going to predominantly realign every facet of business and technology. Beginning from storage of data till public voting, a blockchain can drastically transform day to day activities even to a laymen. It is predicted at least 10% of global GDP (Gross Domestic Product) will be stored on a blockchain. Technically briefing, this is not just turning to be an aid to organizations and society but it is employing into a comprehensive replacement of the whole extensive process. Industry 4.0, Web3.0, Decentralized Autonomous Organizations, Smart Contracts are latest modernizations going to dictate the world very soon.