For SMEs, how can blockchain technologies support value creation and sustainability?
Blockchain technology is of the main areas of innovation, representing the heart of the so-called “digital transformation.” What’s more, all EU member states point to research and innovation as the fundamental drivers to make their respective production systems more competitive. Access to financial resources from the EU is a big plus for SMEs to cover investments in this specific sector, and in turn, in value creation and the innovation of internal processes to make them eco-sustainable, circular, and regenerative.
As far as supply chain management, decentralization, transparency and the block architecture of blockchain technology guarantees the total traceability of commercial relationships. This thanks to the fact that key information for smart contracts is provided to third parties who belong to the network, and to “digital oracles” that verify and authenticate the reliability of information coming from external sources.
Access to a single ledger linked to a specific smart contract makes it possible to monitor measurable and digitizable variables related to every aspect of the commercial transaction (product origin, price, consumer protection, terms of transportation, verification of compliance with the terms of contract and legislation, logistics, and so on). And all in real time. This enhances efficiency in negotiations and transactions generated with smart contracts, minimizing corruption and tax evasion.
- Publisher: Egea
- Series: SDA Leading Management
- Date of publicationJuly 2022
- EAN: 9788823838802
- ISBN: 9788823838802
- Pages: 288
- Format: paper + epub + DigitaBook
