How Blockchain Can Reshape the Supply Chain of Steel for an Industrial Complex
Abstract
Steel is an integral part of modern infrastructure and is present in buildings, vehicles, and machinery. Although ubiquitous, the process of converting raw materials into usable products is highly advanced and, in almost all instances, largely unseen. Blockchain can ensure secure, transparent ledgers are maintained throughout each step of the process, from mining and processing to production and export. This enables companies to verify the origin of the steel, the processes undertaken during its production, and its conformity to safety and environmental standards.
This article demonstrates how blockchain is transforming the steel sector by accelerating, simplifying, and making the tracking process more environmentally friendly. It presents the advantages and disadvantages of applying digital technology to traditionally analogue businesses, based on real-world cases and research.
Readers will learn how a conventional business, with a history spanning centuries, is beginning to capitalize on digital opportunities - whether in manufacturing, IT, or even in industrial processes - making it especially relevant to those passionate about technology.
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References
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