Block Chain: Corda Architecture in Supply Chain

Abstract

Blockchain Technology is a Distributed Ledger Technology (DLT) where the data (digital information) is stored in multiple computers and not in a centralized one [1]. Each system would store a copy of the distributed ledger to avoid pitfalls. The information persists as blocks and gets updated simultaneously on all environments after being validated. Four main types of Blockchain, as described: private/permissioned, public/permissionless, hybrid, and consortium [2]. Corda is an open-source platform of a distributed ledger founded by R3 Consortium (R3CEV LLC). DLT is based on peer-to-peer connections with an agreement, and it is not part of the public. Corda architecture is non-native to cryptocurrencies. The platform is based on top of the Java Virtual Machine (JVM), written in Kotlin. Overall, it explains how Corda can be implemented in a wide range of industries with private/permissioned networks. Earlier, blockchain technology was public and permissionless, which posed a little challenge to many industries to adapt, even in the Supply Chain Management system (SCM) and healthcare. Corda is an open-source and DLT concept with private and permissioned features that make it easy to use in industries like SCM, and how that can be achieved.