While we don’t often give it much thought, the supply chain is a big part of our lives. It’s how we get our food, our clothes, and the fun little gadgets we use on a daily basis.
As the supply chain becomes more complex, the origin and value of our products become less transparent.
Fortunately, there are several projects on the blockchain that want to fix this problem. We’ve outlined them for you below. These are the top 10 supply chain projects driven by blockchain technology that are almost sure to disrupt the industry in the near future.
We’ve compiled a list of the best projects, taking into account longevity, partnerships, online presence, and project updates to provide you with a thorough list.
Top Supply Chain Blockchain Projects
|Name||Description||Year Established||Notable Partnerships||Social Following||Project Updates||Score|
|VeChain (VET)||VeChain aims to use smart contracts as a way to track inventory. This project tokenizes the product as it navigates through the supply chain, tracking each step through RFID labels. These labels reveal the history of the product from start to finish. Users of VeChain have access to view the history of the product at any point throughout its supply chain history.||2015||BMW, BIOS, BYD, Haier, D.I.G., DB Schenker||Facebook (38)
|WaltonChain (WTC)||Similar to VeChain, WaltconChain tracks objects through the use of a proprietary RFID technology. WaltonChain has usefulness in library systems, tracking inventory, and product kiosks. Those who use WaltonChain have detailed information about where a product has been, who handled the product, and other pertinent information relating to the supply chain process.||2016||Fashionchain, MoneyNet, Huodull, Mitoq, Freyrchain||Twitter (55.7k), Facebook (1,400), LinkedIn (221)||29-May-19||3.5|
|Ambrosus (AMB)||This Ethereum-based supply chain project has developed proprietary IoT devices which aim to deliver integrity within its field. Ambrosus is a project that can integrate easily into any industry or market that relies on supply chain or logistics. This project targets errors and problems that exist in the current platform. As a result, Ambrosus believes its device can eliminate many of the headaches that exist in the supply chain, saving companies millions of dollars in the process.||2017||BioFirm, Nestle, Cantone Group, Trek Therapeutics, Crypto Valley Association||Twitter (20.7k), Facebook (4,400), LinkedIn (2,100)||27-May-19||4|
|OriginTrail (TRAC)||OriginTrail is creating a process which shares data throughout the supply chain. Therefore, businesses have an easy way to exchange data, both internally and externally. The primary driver of the OriginTrail project is its application, which offers a transparent way to increase accountability and efficiency. OriginTrail wants to become the first decentralized purpose-built protocol. Successful implementation means businesses can communicate across borders with one another easily and efficiently.||2013||Ferdinand, Perutina, Natureta, Planika, H-Farm||Twitter (15.7k), Facebook (10.5k), LinkedIn (1,500)||30-May-19||3.5|
|Modum (MOD)||The Modum project is a startup that wants to improve on the currently flawed supply chain process. Using IoT technology and blockchain capabilities, Modum has a network which combines smart devices and smart contracts into one component. Modum intends to provide real-time supply chain data to its clients, which helps track information as it becomes available in real-time. With Modum, users know if their product has been tampered with and whether or not they can expect their shipment to arrive on time.||2016||Institute for Supply Chain Management, Swiss Commission for Technology, Communications Systems Group||Twitter (14.6K), Facebook (390), LinkedIn (1,300)||30-May-19||4|
|Tael (WABI)||Tael (formerly WaBi) is a project which develops solutions for the authenticity of consumer products. The project places anti-counterfeit barcodes on products, which the consumer scans. With these scannable QR codes, a consumer can ensure that a product is valid and has not been tampered with prior to purchasing. This is an especially popular product in lower regulated countries like China. After scanning the product, if the information does not match what exists in the database, the consumer and manufacturer are alerted.||2017||Blackmores, Nutrilon, Swisse, Nature’s Fare||Twitter (36.3k),
|CargoCoin (CRGO)||CargoCoin is a project which applies to many different supply chain industries. These include shipping via land, sea, and air. This project makes use of smart contracts to create a secure method of storage and transfer for goods. CargoCoin’s objective is to create effective communication between cargo traders and transporters on a global scale. This allows for the participation of all players involved in the supply chain process, providing a method of sending, receiving, rejecting, approving, or signing necessary documentation.||2018||Bancor, H&B, Bitrue, NoBar, CargoLine||Twitter (1,048),
|Bext360||The Bext360 platform tracks goods on a blockchain system throughout each step in the supply chain. This provides transparency made available on a public ledger which is validated and updated in real-time. Once products are available on the Bext360 system, assets are represented through tokenization. They are stored on the Bext360 network to manage payments, smart contracts, and asset tracking throughout the entirety of the supply chain process.||2016||Great Lakes Coffee, Coda Coffee, Moyee Coffee||Twitter (656),
|ShipChain (SHIP)||ShipChain is a project that aims to provide end-to-end visiblity for all products transported via shipping methods. With its Track and Trace software, ShipChain uses smart contracts to expedite communication between shippers and carriers. Using the Ethereum blockchain, ShipChain only allows the parties involved to have visibility to the process. ShipChain wants to help its clients lower costs, reduce theft and fraud, and enhance transaction times.||2017||CaseStack, ScanLog, Sweetbridge, Direct Outbound||Twitter (8,500),
|CargoX (CXO)||CargoX is a project which uses blockchain technology to develop smart bill of lading solutions. These programs provide cost-effective methods through which bills of lading can process from anywhere in the world. Additoinally, CargoX has created a decentralized solution which uses the Ethereum blockchain, effectively developing supply chain products for its users.||2015||MakerDAO, Mana, TPG Logistics, DBA Group, Europacific, Fracht AG||Twitter (4,600),
A Future with Supply Chain Powered by Blockchain
With the strides the industry has made, the supply chain market could be the first to completely embrace blockchain technology on a significant scale. If this type of disruption does occur, many of the projects listed above will be the ones to drive that change.
The real question is how will the market split the value? Will there be a single supply chain winner, or will multiple projects share the industry? Plus, do the projects we’ve discussed address the problems the supply chain market is currently facing? Is there more innovation coming down the road?
While there isn’t already a clear winner in the supply chain space, there are many projects that are setting themselves apart. However, new projects are launching all the time, making the market even more crowded.
No matter how you look at it, the future of the supply chain is bright. Subscribe to the Bitcoin Market Journal newsletter to stay apprised of this and other markets blockchain is disrupting.
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