Supply Chain Management

6 ways blockchain is changing the process industry

This peer-to-peer sharing, with open transparency and clear standards of documentation, creates a strong decentralized trust across the network.

By Stefan Guertzgen for Chemical Processing

Many chemical manufacturers are bullish about blockchain. The decentralized peer-to-peer digital network technology quickly is gaining traction in the business mainstream. After all, it can help companies optimize a chemical production operation, maximize the value of manufacturing assets and open doors to new business opportunities.

How bullish? In its “2018 Technology Vision”, Accenture reports that 77% of chemical industry executives surveyed expect integration of blockchain into company systems in one to three years, and 71% say blockchain will be critical to their organization over the next three years.

In fact, chemical companies already are finding viable applications for blockchain in various facets of their manufacturing business. So, here, let’s look at a half dozen areas of a chemical production operation where blockchain can make a lasting positive impact.

To learn more, read "Take Advantage Of Blockchains" from Chemical Processing.