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Blockchain and Nanotechnology
When one mentions the phrase “blockchain” to a businessperson, one is going to get either “not heard of it” or “it is also known as Bitcoin, is it not?” These types of remarks could be familiar to anyone who is both interested and actively involved in nanotechnology. The fact is that none of these transformative technologies are well grasped, and practical applications to meet commercial possibilities are just now surfacing.
While blockchain is most well known as the technology that powers the (a bit contentious) cryptocurrency Bitcoin, it may also be used in a variety of sectors, such as banking, healthcare, identification, and supply chains. Major IT corporations, including the likes of IBM, Microsoft, SAP, and Oracle, have made significant investments in making blockchain more accessible to corporate businesses for these and other applications. With that said, in this article, we will look at how the pairing of blockchain and nanotechnology can be utilized to address an especially tricky element of supply chain management, which is the massive worldwide criminal global market for counterfeit goods, which further harms company profits, influences brand confidence, and weakens relationships with customers.
What is Blockchain?
But before going in, let us take a brief look at what blockchain is. Think of a blockchain as a distributed public ledger that is free from any tampering. Hence, the data that is stored on a…
