Blockchain Can Make ICT Supply Chains More Resilient
By Jamie - Cryptocurrency Specialist
Can a database commonly used for buying and selling Bitcoin help strengthen the IT Industry? A government study group believes Blockchain can be the solution.
The U.S. Cybersecurity & Infrastructure Security Agency (CISA) formed a study group to see how the pandemic has affected the IT industry. It was discovered that the massive impact felt on every mode of transport negatively impacted supply chains. They also stated that the industry must diversify supply chains to keep them from just single sources, as companies tend to keep inventory in one location to keep business costs more efficient. Therefore, it is recommended to have supply chains in a variety of areas in case events like the COVID-19 pandemic were to transpire again.
The study groups suggestion for helping to restore these supply chains by allowing IT companies to engage in scenario planning for different types of events and “map out the alternatives” for an efficient restoration of the supply chain. And as a result, the study group state ICT companies can utilise platforms that provide real time analytics such as Blockchain, a digital platform that is well known for its uses when it comes to investing in cryptocurrency. It is stated within the report that Blockchain technology is to be used for its “real time visibility into available logistics capacity” to make IT supply chains more resilient.
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