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– TIMESTAMPS –
2:30 The Supply Chain Market
4:35 Blockchain & Supply Chains
7:56 Cryptocurrency & Supply Chains
11:02 “Blockchain” vs. Cryptocurrency
14:20 Blockchain Use Concerns
⛓️ 🔗 Useful Links 🔗 ⛓️
► VeChain Explained: https://www.youtube.com/watch?v=dc1a_uga4Yk
► Supply Chain Revolution Book Highlights: https://cointelegraph.com/news/book-review-of-don-tapscott-s-collaborative-supply-chain-revolution
► VeChain Hack Explained: https://www.coindesk.com/vechain-foundation-hacked-for-6-5m-in-vet-token-theft
► Concerning CoinDesk Article About Blockchain Supply Chains: https://www.coindesk.com/why-tech-minded-climate-groups-see-covid-19-as-a-trial-run-for-massive-change
► List Of Coronavirus Charities That Accept Cryptocurrency: https://www.exodus.io/blog/coronavirus-charities-that-accept-cryptocurrency/
⚙The Supply Chain Market⚙
The exact value of the global supply chain industry depends on how broad your definition is. For example, the global supply chain management market is only worth around 20 billion dollars but is expected to double over the next decade.
The value of the entire supply chain market on the other hand is well into the tens of trillions of dollars, and some estimate that the value of the digital supply chain market is likewise worth trillions of dollars at the very least.
This is the market that crypto projects like VeChain, WaltonChain, Hedera Hasgraph, and many others have been trying to establish themselves in with varying degrees of success.
🔗Blockchain And Supply Chains🔗
This pandemic has shown us just how broken and outdated our supply chains are. Thankfully, blockchain technology is here to bring the supply chain industry to the 21st century. Optimizing the transportation of sensitive goods such as vaccines, facilitating payments between suppliers and retailers, increasing the transparency of the production process, and facilitating the creation of new supply routes are just a few of the perks blockchain can bring to supply chains.
🤑Cryptocurrency And Supply Chains🤑
The adoption of cryptocurrency blockchains for supply chain use-cases has been unimpressive except for VeChain, and almost all their adoption has taken place in China. This is mainly because private companies are not all that keen on using public and permissionless blockchains.
Governments and businesses want to be able to keep sensitive data out of sight of the public eye. They are also likely hesitant to adopt cryptocurrency blockchains due to regulatory ambiguity. Ransomware attacks involving cryptocurrency have also been on the rise this year.
🏋️♂“Blockchain” vs. Cryptocurrency🏋️♀
The whole point of blockchain is decentralization meaning no single point of failure, but all of the supply chain blockchains being built by tech giants are extremely centralized. This is why you will sometimes see the term ‘distributed ledger technology’ used interchangeably with blockchain when governments or companies talk about their “blockchain” developments.
To achieve true decentralization, you need to have financial incentives which motivate people to maintain a decentralized network. This is why you get cryptocurrency as a reward for mining or running a node, and it is why you can be punished for being offline for too long or acting maliciously by having your stake slashed on many proof of work blockchains
😨Blockchain Use Concerns😨
Blockchain is a powerful technology that can be good or evil depending on how it’s used. There is a big difference between something like Bitcoin being used to protect people from bad monetary policy and an authoritarian government using a private “blockchain” to keep track of its citizens and their behavior
The covid crisis has raised many legitimate concerns about the overreach of government and corporate power. An increase in the centralization of power has set the stage for an unprecedented amount of control using blockchain. The cryptocurrency space can offer an alternative through leading by example
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
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