PrincessKnay4029 PrincessKnay4029

28-06-2022
English

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Shipping vast quantities of oil and gas supplies is a complex process that requires the participation of many different parties. any delays in shipping, or possibility of fraud, across the entire supply chain could cost the industry billions of dollars. how could blockchain technology be applied to address this problem?

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deebikamadhivanan deebikamadhivanan

02-07-2022

The chemical and petroleum industries' supply chains are as extensive and complex as the regions in which they operate.

What does blockchain technology solve?

Due to information gaps and trust concerns in the supply chain, which are frequent in the modern manufacturing environment where suppliers frequently operate in silos, the implementation of Blockchain technology enables the production players to concentrate on manufacturing without being hindered.

This holds true for all chains, there will always be several vendors throughout the supply chain, which results in expenses and delays for all parties involved.

One of the finest tools for thwarting hackers and other types of fraud is blockchain technology. There will be fewer complications and delays in various financial services if there are fewer frauds. The entire cost of the financial system would be reduced as a result.

Check out the link below to learn more about blockchain technology;

https://brainly.com/question/27739859

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