5.3C Blockchain Flashcards
What is blockchain?
-permanent digital record of transactions that is stored across a distributed or decentralized network of computers
-chained together through sealed records of transactions
→ hashing: every block has a hash ID, if chain is changed the hash ID is changed and owner gets informed
List the six distincitves of Blockchain
- decentralized and centralized
- distributed
- transactions in the ledger/record are validated by everyone
- every user has a unique digital key
- information recorded is immutable/unchangable
- the ledger is governed by programmed logic
What are possible advantages of BC in Logistics and SC?
- Asset Tracking
- Total visibility across and down into multiple tiers of the SC
- Accountability
- Process conformance
- improved collaboration across the SC
Define structural and reational embeddedness
Structural involves how relationships are configurated or structured → impersonal side of interactions
Reational is the configuration of personal realtionships through a history of events → personal side
List the stages of an evolving network
- fluid network: build by a new firm
- growing network: increased structural embeddedness
- mature network: increased relational embeddedness
List problems of BC
- latency and scalability
- cost and energy usage
- lack of regulation
- data quality
- lack of knowledge
How would Blockchain technology support inventory management, demand management, and transportation management in the supply chain?
→ visibility (stock level, reduce bullwhip effect, reduce inventory level)
→ better forecast (POS data)
→track and trace