There has been a focus on how people can use blockchain to monitor and grow their business. The effectiveness of the system makes it perfect for any business and has yielded better results compared to other systems.
Its application in different industries acts as proof, and there have been suggestions to take its use to the large scale.
Accenture Joins The Race
Accenture, which is a leading consulting firm, is the latest to join a group of companies that have made a decision to use the system. The company wants to apply the system on its logistics network since it has proven to work for other parties.
This revelation came through from a document published by the U.S. Patent and Trademark Office. It shows that the company is trying to see if using blockchain on its logistics department will have any positive results.
According to an abstract obtained from the document, the system will make it easy to track any shipment and determine if it has arrived to its destination. The device will also be able to analyze and determine the attributes of the products.
Accenture Interest In Blockchain
This will be the second time that Accenture has shown interest in the use of blockchain to run its business. The firm recently entered into a partnership with Thales, a French multinational aerospace company, to handle its aerospace supply chain.
Cooperation With DHL
In March, the company entered a deal with DHL to implement blockchain for its pharmaceutical supply chains. There are expectations for this move to yield more significant results and shows how committed Accenture is to the use of blockchain.
Looking at the current market, one can conclude that the number of big firms that are considering the use of blockchain has been growing. It has proven to be very effective and detailed, which makes it better to run any business.
Editable Blockchain
Last September, Accenture tried to apply for the so-called ‘editable blockchain,’ which received mixed reactions. The majority of the people who criticized this application said that its existence went against the nature of the technology. They said that it may not function as needed and may present some challenges when tracking its results.
Conclusion
Blockchain technology has taken the world by a storm. This technology has a vast potential and promises to get better results when tracking and storing data.
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