Supply chain networks face an increasing demand to integrate information of globally distributed customers and suppliers. As supply chain processes are deemed to lack sufficient transparency and security, blockchain solutions are piloted to offer an IT infrastructure covering these needs. This post sums up the most important steps to consider when choosing blockchain – based on the following publication: Link
1. Preliminary Considerations
First, it is necessary to choose a relevant use case and gather opportunities and challenges of the respective blockchain solution. Subsequently, all opportunities and challenges are compared to traditional payment solutions. The most important opportunity to be considered usually is the enhanced transparency of the payment processes. This includes the verification of identities before allowing multiple parties to interconnect on a trustful basis. The most important challenge usually is to establish the whole consortium of partners, which should be then connected via the blockchain solution.
2. Analysis Phase
In relation to the first phase, the project team evaluates specifications of the existing business processes and the different blockchain platforms. Most of the public solutions are built on Ethereum platform, especially if there are multiple external parties involved. However, in a B2B environment, private protocols can be considered to keep the transactions private. In this case, the Hyperledger Fabric protocol is commonly used where particip