Monica Eaton Says Blockchain Will “Revolutionize” Supply Chain Management
The cryptocurrency market is down more than 80% compared to the early-2018. Despite that, Chargebacks911 COO Monica Eaton says the blockchain market still has bright days ahead.
In her recent guest post for BlockTelegraph, Monica pointed to projections that the value of retail blockchain applications will multiply 29-fold in the next five years. By 2023, blockchain could grow from an $80 million value to $2.3 billion.
Where is the Blockchain’s Value?
Rather than coins, the real value is in blockchain’s ability to make businesses run more efficiently. Take supply chain management, for example. Retailers can use a blockchain system to track and authenticate products, and to prevent stockouts.
“Stockouts may cost the retail industry as much as $1 trillion annually,” Monica explains. “Stores can have more efficient, up-to-date stock tracking with a blockchain in place to manage inventory. No more errors or oversights.”
Of course, that just scratches the surface. For example, as Monica points out, there was the recent incident of E. coli in the US’s romaine lettuce supply. “The situation could have been different if there were a blockchain system in place at the supplier level,” she suggests. “Retailers like Walmart could instantly identify affected product and remove it from stock. Items unaffected by E. coli could have been left on the shelf.”
