enterprise-blockchain

Vocabulary Word

Definition

'Enterprise-Blockchain' is a shared record book. Like when a group of friends has a shared notebook. But instead of friends, it's businesses and instead of secrets, they put in transaction details that can't be changed later.

Examples in Different Contexts

In supply chain management, 'enterprise blockchain' enables companies to track the production, shipment, and delivery of products in real time. A supply chain manager might state, 'Implementing enterprise blockchain has significantly improved our product traceability and reduced counterfeiting.'

Practice Scenarios

Supply-Chain

Scenario:

We are struggling with our product tracking, particularly from sourcing to delivery stage. Can we leverage technology to improve this?

Response:

To improve product tracking, Enterprise-Blockchain technology can give us the level of visibility we need from sourcing to delivery.

Business

Scenario:

The company has been facing some transparency issues with our stakeholders. How might we improve these issues?

Response:

Incorporating Enterprise-Blockchain into our business model could be a viable solution for fostering better transparency.