How do you know that the coffee that you bought is actually Fair Trade How do you know which one is real? How do you know that this T-Shirt has not been made in a sweatshop with a simple tag added at the end You simply don’t In order for you to be certain you would need a record of all transaction and events of the life of an item. That would be possible with Blockchain What’s a blockchain? That’s a fancy word Blockchain is related to Bitcoin the cryptocurrency. Initially it was made for financial transactions but it is now revolutionizing the business world especially Supply Chain. It’s just like Google Sheets With regular transaction there is a middleman like the bank that registers this transaction. A centralized system like Microsoft Word but Bitcoin transactions are between user to user so when there’s a transaction that information is recorded on a shared ledger (or block) and these blocks are linked together to form a Blockchain like a shared Google doc. Transaction accuracy is driven by the fact that “consensus creates truth”. In a blockchain database every participant or node maintains a copy of the shared ledger Each transaction on the blockchain is recorded in computer code showing who the parties are, transaction details and time stamp with each containing a unique math based encrypted signature. This digital signature is key as it allows each block of information to be securely connected to all the rest. It’s this system of full transparency and connectedness that lends the Blockchain its trust and credibility. This connection provides an audit trail of every transaction that’s ever occurred in a system. So if there were an unauthorized change, each node is notified and we can see where it took place They then would agree to recognize the change as Valid…or ‘Rejected’. Again, transparency and consensus combine to make the Blockchain system virtually tamperproof Today in a supply chain data is stored in silos (like sharing Microsoft Word file) But with Blockchain your data will be stored publically or pseudo anonymously in a shared Data Base. Now with Blockchain you can track the chronological history of the organic cotton shirt that you bought You cannot temper or cheat because everyone using the system is WATCHING YOU! The Blockchain revolution isn’t going to happen overnight. But it is expected to change our lives like the wheel, the electric motor and the Internet itself! I believe that Blockchain would be the next Industrial Revolution!