Blockchain technology offers the supply\nchain management industry the benefits of cost-effectiveness and traceability.\nA blockchain can be used to track all the movements of goods, their origin, and\ntheir quality. This can help to simplify processes within the industry like\nownership transfer, payments, and production process assurances. <\/p>\n\n\n\n
Quality\nAssurance<\/strong><\/p>\n\n\n\n A blockchain system can lead to finding the point of origin if an irregularity is detected somewhere along the supply chain. This will make it easier for businesses who utilize the technology to carry out investigations and execute the actions necessary to correct the problem. <\/p>\n\n\n\n Accounting<\/strong><\/p>\n\n\n\n Recording transactions through blockchain\ncan virtually eliminate human error and will prevent the data from being\ntampered with. Records within the blockchain are verified every single time\nthey are passed on from one block to the next within the chain. Along with\nproviding guaranteed accuracy of documents, the process also leaves a highly\ntraceable audit trail. <\/p>\n\n\n\n Voting<\/strong><\/p>\n\n\n\n The aspect of voting, just like with supply\nchain management, all boils down to trust. Utilizing blockchain technology in\nlocal elections could significantly diminish electoral fraud, which has become\nan issue despite the prevalence of electronic voting systems. Another example\nwould be how NASDAQ could leverage blockchain to facilitate shareholder voting.<\/p>\n\n\n\n Stock\nExchange<\/strong><\/p>\n\n\n\n The idea of implementing blockchain\ntechnology for securities and commodities training isn\u2019t new. Given the\nopen-yet-reliable nature of the blockchain technology, it isn\u2019t surprising that\nstock exchanges consider it to be the next big step forward in trading. <\/p>\n\n\n\n![\"\"](\"https:\/\/atozcrypto.org\/wp-content\/uploads\/2019\/11\/5-1024x1024.jpg\")
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