Blockchain in business: evaluation and application

Abstract

Today, Blockchain is one of the most discussed topics in the technology industry; some people even term it the greatest invention after the Internet. Even with all the hype, it is generating, we find that significantly fewer number of sectors are actually taking steps in utilizing this exceptional technology. Extensive research is available, enumerating blockchain technology's benefits, but a lack of suitable practical tools/products that the industry could directly use. Through this report, we try to analyze how various industries could benefit from adopting a blockchain infrastructure. We primarily focus on how a supply chain could be made more resilient and trustworthy by adopting Blockchain and have built a Minimum Viable Product (a Web-App) for asset tracking and provenance in a supply chain. The Web-App is built using Microsoft's Azure blockchain Service and its underlying Cloud-based infrastructure. The app aims to demonstrate a sample shipment in a typical supply chain of an FMCG player.