Blockchain technology, best known for supporting Bitcoin and other cryptocurrencies, is designed to be secure, transparent, and decentralized. These same characteristics make it attractive to businesses.
Blockchain technology can track and verify each step along the life cycle of products, including the origin of their raw materials, the steps in the manufacturing process, and delivery dates to warehouses and consumers’ homes. The system also can be invaluable in ensuring products meet regulations and preventing counterfeit versions from being sold.
To help advance the technology, IEEE launched its Blockchain Initiative earlier this year. In this issue you’ll learn about the activities underway.
We also look at other ways blockchain is being used including hiring and retaining employees, monitoring fish supply, protecting copyright, and providing a legal ID.
You’ll also learn about the offerings the organization provides such as educational materials, publications, and conferences. In addition, the IEEE Standards Association is working on projects related to the supply chain operations for food and pharmaceuticals.