Blockchain technology still remains one of the biggest developments in the technology sector today. One of Canada’s major companies is now embracing this technology to modernize its own supply chain.
There are many different ways to digitize a company’s existing infrastructure.
FCL Embraces Blockchain Technology
More often than not, the process is painstaking, slow, and expensive.
For Federated Co-operatives Limited, or FCL, blockchain technology has become of great interest.
Given how this is one of Canada’s biggest companies today, that makes the move of great interest.
Its goal is to incorporate blockchain technology into its supply chain.
This will be achieved through the Morpheus.Network middleware platform.
The development of this new supply chain will take a lot of time and money, however.
That being said, the company wants to focus on automated tracking and compliance management solutions.
These will, eventually, supplant the manual processes in place by the company.
It is not the first time a major company announced its blockchain-oriented approach.
Earlier this year, BMW confirmed it would bring a blockchain-based supply chain to select suppliers throughout 2020.
All of these projects will help determine if blockchain technology is really viable for the future.
There has been a lot of hype surrounding this industry, but very few viable projects.