Refer to Blockchain.complicated.io
A data stored in the public blockchain is considered permanent - even after the owner has gone out of business.
The reason is because the database is the blockchain and since it is a public blockchain, the database is public and since the blockchain is decentralized, the data has duplicate copies.
Consider a scenario whereby a supply-chain data is stored in a public blockchain, what so great about it ???
It is great because if a factory who participates in the supply-chain regularly updates data to the blockchain; it is a good thing that the data will benefit other participants in the supply-chain; it is a blessing that the data will remain in the blockchain even if the factory closes down, this ensures the 'moist' of the supply-chain.
It was reported that pre-blockchain supply-chain systems lack the transparency on suspicion of illegal and unethical practices; for example, suppose a factory makes a mistake by supplying banned raw materials to a supply-chain, the data on blockchain will remain even though the factory decides to close down later; other parties in the supply chain will still be able to track the supply and isolate the damage.
A data stored in the public blockchain is considered permanent - even after the owner has gone out of business.
The reason is because the database is the blockchain and since it is a public blockchain, the database is public and since the blockchain is decentralized, the data has duplicate copies.
Consider a scenario whereby a supply-chain data is stored in a public blockchain, what so great about it ???
It is great because if a factory who participates in the supply-chain regularly updates data to the blockchain; it is a good thing that the data will benefit other participants in the supply-chain; it is a blessing that the data will remain in the blockchain even if the factory closes down, this ensures the 'moist' of the supply-chain.
It was reported that pre-blockchain supply-chain systems lack the transparency on suspicion of illegal and unethical practices; for example, suppose a factory makes a mistake by supplying banned raw materials to a supply-chain, the data on blockchain will remain even though the factory decides to close down later; other parties in the supply chain will still be able to track the supply and isolate the damage.
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| A western food meal is made up of supplies from many different supply-chains |
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