Blockchain

How enhanced supply chain visibility leads to more revenue

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The post How enhanced supply chain visibility leads to more revenue appeared first on Quillhash Blog.

Published

1 year ago

April 3, 2020

Republished by Plato

This blog talks about the state of visibility in a modern-day global supply chain. The current supply chains are highly opaque and offer challenges that can easily be solved by increasing visibility. Increasing Visibility in the supply chain leads to increased customer trust and loyalty, along with reduced costs. The increased visibility leads to better insights from the data and removes hiccups and bottlenecks far too easily than the traditional supply chain system.

Introduction

Businesses these days are looking to expand and operate on a global scale, and that means the supply chain will be mapped all across the globe. But with operations spread globally, there arises some distance, time and cultural challenges.

In a survey conducted by Capgemini global consultants, more than half the business managers surveyed, 55%, believed that the role of supply chain management is to provide a competitive advantage to the company. So it may not be surprising then that managers also listed “supply chain visibility improvement” as their top priority.

Supply Chain Visibility

Before starting the discussion about supply chain visibility, we need to understand what it exactly means.

According to GS1, Supply Chain Visibility is defined as the awareness of, and control over, specific information related to product orders and physical shipments, including transport and logistics activities, and the statuses of events and milestones that occur before and in-transit.

Businesses are under constant pressure to cut supply chain costs while meeting customer expectations. The growing size of the supply chain of companies with an increasing number of players exchanging information and physical goods over vast distances:

Top Four Reasons Why Supply Chain Visibility Is More Important Than Ever Before | Quantzig

Challenges with existing supply chains

Disruptions

Supply chain interruptions are a big headache for any company as it leads to increase in cost and loss of product. With opacity in the supply chain, it isn’t effortless to track the location of the shipment.

1/4th of the supply chain managers surveyed by APICS Insights and Innovations indicated that their organizations generally take more than a few months to recognize that they are experiencing chronic disruption.

Poor or Non-Existent Insights

Modern-day supply chains generate many data, and most of it is segregated in each player’s database. A global supply chain has many players and to create meaningful insights from the data, and there needs to be a collaboration between the players in the supply chain.

Slow Performance

Paper plays a vital part in a modern-day supply chain, from invoices to certificates to Bill of Lading and so on. The use of paper limits the automation of the supply chain, which results in slow performance. Because of little collaboration and communication between the players in the supply chain, the paper is widely used.

Supply chain inefficiencies are costing UK businesses over £1.5bn in lost productivity, According to an analysis by Zencargo.

No Connection with Customer

Customers are now becoming more aware of their buying habits and are choosing products from companies that are more transparent about their work. It includes being open about their sustainability practices, their supply chain, and governance decisions.
Companies do not have a direct connection with customers in an opaque supply chain which leads to a decrease in customer trust and engagement.
http://ptec-ir.com/uploads/Gartner_Research_Brief_Issue_2.pdf

Benefits of Supply Chain Visibility

Customer Trust

According to a survey by Brand Spark International, about 95% of the customers say brands that provide consumers with detailed information about their product or service earn their trust.

Companies or Brands can provide more information about their product to the consumer with the aid of supply chain visibility. With more information regarding the product in the supply chain, companies can present that information to the consumers to gain trust and increase their brand reputation.

Supply chain visibility matters most to consumers who are empathetic to others’ well being who usually tend to be more skeptical. Information sharing with the consumer overcomes their inherent lack to trust and makes prosocial customers feel like they are patronizing a socially responsible company.

Increased Profits

With the increased visibility in the supply chain, the available data can be analyzed and also used to build predictive models for Machine Learning. This data can be used for inventory and logistics management systems which decrease the inventory levels and make the logistics more efficient.

According to IBM, Less than 10% of supply chain data is effectively used – and most companies are virtually blind to the 80% of data that is dark or unstructured.

Along with increasing customer trust and reducing costs in the supply chain, there are a few more benefits of increasing the visibility of a supply chain.

UPS is expected to save $300 million to $400 million a year after the implementation of the new On-Road Integrated Optimization and Navigation system (Orion), according to Mckinsey.

Integrated Process Optimization

A digital supply chain offers a whole new avenue of automation where financial transactions and processes can be automated, and the time elapsed can be reduced. This aids in the streamlining of the supply chain and reduction in time taken during cumbersome paperwork.

Collaboration

How to achieve supply chain visibility?

We have discussed the challenges and the benefits of supply chain visibility, but we still haven’t considered how to implement it.

Supply chain visibility in the modern global supply chain can be implemented with the integration with a couple of technologies which will work side by side. This technology stack would consist of Blockchain technology for the basis of data management, IoT for tracking in the supply chain and for converting physical assets to digital ones and cloud computing for securing the data.

According to Accenture, nearly one in four companies report a financial impact over $30 million for a single recall.

Blockchain technology is beneficial for increasing supply chain visibility because of the immutable nature of the network. Blockchain can prove as the single source of the truth and increase collaboration between the players with information sharing since the Blockchain database is immutable meaning that no data entered can be changed or deleted. This nature of Blockchain brings customers closer to the company and increases their trust and loyalty for the brand.

QuillTrace, a Blockchain-based supply chain solution

QuillTrace is a Blockchain-based procurement platform by Quillhash which makes the supply chain of any business transparent, sustainable and secure by integrating with the existing Supply Chain systems.

Using QuillTrace, companies can report their ESG data more transparently and with data, formats complying to the Industry or International standards. With better data related to sustainability and governance about the company, their score increases which opens more avenues for the investors to look within.

We have made a pdf explaining the present problems in the supply chain and an effective solution for those problems. you can find it here :

Source: https://blog.quillhash.com/2020/04/03/how-enhanced-supply-chain-visibility-leads-to-more-revenue/

Blockchain

Indian government cautious about crypto-adoption, CBDC is a possibility

Published

1 min ago

September 21, 2021

Republished by Plato

Indian traders and exchanges might be bullish about the crypto market, but the Indian government doesn’t seem keen on rushing into the scene. At least, not until studying its homegrown fintech industry and the anti-Bitcoin protests in El Salvador.

Tracking global news

Indian finance minister Nirmala Sitharaman in a recent interview with Hindustan Times explained why the country seemed to be falling behind when it came to crypto adoption.

Though she admitted, El Salvador wasn’t “the best example,” Sitharaman said,

“You’d think common people don’t care about digital currency; but the public took to the streets against the move. It’s not a question of literacy or understanding – it’s also a question of to what extent this is a transparent currency; is it going to be a currency available for everyone?”

Sitharaman referred to CBDCs as a “legitimate” cryptocurrency and admitted there could be a “possibility,” in hat regard. She noted that India held the “strength of the technology” and acknowledged the need to formulate a Cabinet note. However, Sitharaman wondered if India was ready to follow El Salvador’s way.

Facts on the ground

Though accessibility is a pressing concern, more Indians have discovered crypto than perhaps expected.

Nischal Shetty, CEO of the Indian crypto exchange WazirX – a subsidiary of Binance Holdings – has stated that WazirX sign-ups from India’s tier-two and tier-three cities overtook those from tier-one cities this year. Even so, sign-ups from tier-one cities themselves saw a 2,375% rise. Furthermore, WazirX added one million users in April 2021 alone.

Day 1053

Compared to few years ago, today people better understand crypto classification

Crypto is not just a currency but also utility & asset. There are new use cases emerging every day

India has over 20M people in Crypto now. It’s a great time to BUIDL 🚀#IndiaWantsCrypto

— Nischal (WazirX) ⚡️ (@NischalShetty) September 19, 2021

Adding to this, the cost of electricity and Internet data in India are relatively cheaper, which could boost both crypto trading and mining in the future. However, at the last count, there was only one Bitcoin ATM in the whole country.

As per data by Useful Tulips, which combined data from Paxful and LocalBitcoins, India saw transfers worth around $4,502,369 in the last two weeks.

Could anti-Bitcoin protests happen in India?

There is evidence to support both sides. India has a strong history of mass protests, with the farmers’ protests against the government’s agricultural laws being one such example. The 2016 demonetization of part of the country’s paper currency still haunts many, and Internet penetration is yet to cross 50%.

However, India also has the largest diaspora in the world, with approximately 18 million people living outside the country. Crypto innovation could lead to hundreds of millions of dollars being saved on remittance charges as money is sent across borders.

But for the time being, it seems India’s urban residents are more bullish about crypto than its government.

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Source: https://ambcrypto.com/indian-government-cautious-about-crypto-adoption-cbdc-is-a-possibility

Blockchain

Assessing the odds of Solana dropping below $100 soon

Published

31 mins ago

September 21, 2021

Republished by Plato

A $100 investment in Solana a year back would have led to a $5000 return on investments right now. The digital asset has undoubtedly taken the market by storm and over the past couple of months, its valuation has parabolically risen.

However, thanks to a major invalidation on the daily chart, a correction is possibly due for the token now. Especially since bullish momentum is collectively taking a hit across the industry.

Solana is no longer rallying on its own. And, according to recent developments, it might undergo a period of correction over the next few weeks.

Levels to keep track of during Solana’s correction

Source: Trading View

Analyzing the current market structure of Solana, the asset hit an all-time high of $215 on 9 September. However, it was unable to hold a position above the $200-level for long. With Bitcoin consolidating strongly between $45,000 and $50,000 during that period, Solana may have found it relatively easy to continue on its bullish path since liquidity and capital flows were evident across the industry.

However, with bearish dynamics coming into play now, it is important to understand the liquidity pools presently evident for the asset. One major invalidation faced by Solana at press time was the crossover between the 20-Simple Moving Average and 20-Exponential Moving Average.

The SMA moving above the EMA on the daily timeframe is considered a strong bearish signal. At the time of writing, for instance, the asset was well away from any form of recovery.

Source: Trading View

Now, in terms of identifying levels, Solana’s previous trend suggested that the asset has a tendency to bounce back from the 0.618 Fibonacci level. During the early 2021 rally, the asset went up to $64 before dropping down to $23 in the month of July. A similar reciprocation of trend would see Solana drop below the $100-mark, with the current 0.618 Fib line residing around the $96-mark.

As far as support is concerned, the previous high of $64 is a strong weekly level. It might get tested if bearish pressure persists across the ecosystem.

Institutions can still rescue its plot

Besides market corrections, Solana hasn’t been followed by positive development since its network witnessed a 17-hour downtime following a DDOS attack. The downtime has been speculated to be one of the primary reasons for the 35% collapse last week.

However, to be fair, SOL‘s credentials were already shaky above $200, and profit-taking was at large.

On the contrary, according to Coinshares‘ digital asset fund report, institutions have overlooked Solana’s minor hiccup as the asset class registered another $4.8 million in capital inflows.

While that is positive, it is important to note that such capital investments are made with the future in mind. Not immediate returns. Hence, recovery on the basis of this investment may or may not unfold since profit-taking on the retail side of the market controls the larger market.

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Source: https://ambcrypto.com/assessing-the-odds-of-solana-dropping-below-100-soon

Blockchain

BTG Pactual becomes first bank in Brazil to participate directly in the crypto market

Published

1 hour ago

September 21, 2021

Republished by Plato

Financial institutions have been increasingly keen on being part of the booming $2 trillion cryptocurrency market, with over 13 of the world’s largest banks pushing roughly $3 billion in funding so far, into cryptocurrency. The latest major news came from Brazil.

One of the leading Brazilian investment banks BTG Pactual has been trending within the crypto community. It launched a new platform enabling customers to make direct investments in cryptocurrencies. Ergo, making it the first major financial institution in Brazil to participate directly in the crypto market.

According to local news outlet, The Rio Times,

“…the launch of Mynt, a platform that allows BTG Pactual Digital and BTG+ clients to trade directly, cryptocurrencies such as bitcoin and ether.”

Andre Porthilo, BTG Pactual’s head of digital assets, stated,

“At this first moment, we will have the two main assets of the market, but we will include other cryptos for trading over time. We will have a complete platform with blockchain-based assets.”

One thing that remained in common with different banks incorporating these tokens is the fact that they have been responding to “demand from our customers who wish to trade crypto.” This news is no different.

Plans

BTG Pactual CEO, Roberto Sallouti laid out his plan of action with this development. He opined, “As a new asset class, we will also have content to educate and inform our customers about these assets and the technology.”

Needless to say, Brazil has witnessed an immense amount of crypto traction. That said, regulators too have taken steps to curb illicit activities. As asserted by the CEO, the said bank will be regulated by both the Brazilian Securities Commission and the local central bank. Moreover,

“With the support of BTG Pactual, Mynt has fundamental differentials in security and credibility…”

Past

The said bank had previously incorporated digital assets in previous operations as well. In 2019, it launched its real estate-backed security token ReitBZ. This step was executed post-examining digital assets for a couple of years. Just recently, the bank announced collaboration with Gemini, the U.S.-based crypto exchange. Gemini provided custody services to the first Bitcoin fund issued by a Brazilian investment bank.