Lack of visibility into end-to-end product movement is a global supply chain problem. blockchain technology provides shared access to applicable data and the ability to trace and verify actions as a commodity moves through its supply chain

If adopted by multiple parties in a supply chain, a blockchain can act as a shared point of truth between those parties. Products can be recorded as assets or tokens on the blockchain, and their movements recorded as transactions, which are agreed upon by all parties before entered as an immutable record on the ledger. This ability offers the opportunity to improve upon current systems, particularly in areas like contracts, product authentication, payment solutions, and regulatory compliance