The article Global Supply Chains Are About to Get Better, Thanks to Blockchain by Michael J. Casey and Pindar Wong begins by reporting how Chipotle’s supply chain mismanagement facilitated its fall, advocating for blockchain technology as a remedy with the advantage point in influencing the distribution system. The piece reports distributed database, peer-to-peer transmission, transparency with pseudonymity, irreversibility of records, and computational logic as the underlying principles that make the blockchain technology a viable option to apply. The article further emphasizes the advantage point regarding blockchain transactions reporting prominent companies that currently utilize it in their system. Although it reports of further benefits such as putting organizational service providers in check, it informs of challenges that may arise in its application. The article concludes by advocating for weighing the challenges with the contemporary global economy demands, which leads to the realization that the blockchain technology application would facilitate economic renewal.
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