Question

How could the adoption of blockchain within a supply chain help the world become more sustainable and, in some cases, eco-friendly?

Answer 1

Answer:

Consumers could easily return and get refunds for products that didn't meet their. ... Consumers will be able to effectively track where the components of their product were. sourced.

Answer 2

The way, how the adoption of blockchain within a supply chain can help the world become more sustainable and eco-friendly is as follows,

• Sustainability - Blockchain has the ability to deliver an unparalleled level of transparency, it is well-suited for usage in supply chains. Blockchains are designed as a decentralized, shared database with immutable, encrypted copies of the data maintained on each server or "node" in the network. Unlike traditional centralized databases, blockchain systems use a cryptographic consensus technique to validate entries or modifications in the ledger, eliminating the need for middlemen. Blockchain technology is proving to be the best solution for solving supply chain transparency issues. Supply chains are complex networks of dispersed, independent enterprises that exchange commodities, money, and data in a dynamic, ever-changing environment. The basic architecture of blockchain technology is structurally comparable to that of other technologies. Blockchains build decentralized networks that enable system participants to exchange data almost instantly from anywhere on the planet.
• Eco-friendly - Blockchain technology can indeed help with new green production systems, the monitoring and storage of data-related activities that cause pollution and environmental damage, and the real-time collection and analysis of green or low-carbon data for prompt decision-making. The usage of blockchain can assist the SSCM approach in reducing environmental impacts while also bringing economic and social benefits to all supply chain stakeholders. Pollution reduction is one of the environmental benefits of using transportation in more appropriate shipping.

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