International trade suffers from inefficient supply-chain logistics and financing options. This article reviews various ways in which blockchain startups are attacking the problem.
Blockchain-based solutions to both physical and financial supply chain issues are being proposed by a number of startups. Vendors in the physical supply chain space include CargoChain and Everledger, which is focused on ensuring authenticity and minimizing fraud in the international trade of diamonds (and also, more recently, fine art). Blockchain immutability, together with the transparent, multiple-party access it provides to the same shared ledger, are seen as key functional attributes to improving efficiency in the supply chain process of tracking the changing ownership of goods.