MaterialTracer-2.0

MDxBlocks Inc. provides international standards of quality across all services. It brings together a balanced mix of people, technology and the clarity to focus on client requirements. Adpots a flexible approach in modeling our business to meet customer needs in an optimized manner. With Deep domain knowledge, we have experts with long experience in many diverse fields such as Energy, Oil and Gas, Retail, Manufacturing Health, Finance, Education, IT and Project domains.

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Blockchain use in traceability systems is predicated on the rapidity of querying the system, the simultaneous capabilities of anonymity and transparency, and the immutable and shared nature of the system. The concern with a centralized system to traceability includes a single point of breakdown, the opacity of such a system, and the basis on the trust of the provider.

The oil and gas industry has transformed itself into a data-intensive industry – artificial intelligence, machine learning, and the internet of things. With such growth and expansion, distributed ledger technology, commonly known as the blockchain, can carry the industry’s transformation forward.

This technology can help the industry to overcome various challenges such as price volatility, supply chain, accounting, data management, and security. It can also help in streamlining various engineering and technical decisions.

“Supply Chain Blockchain – Gaining a real-time digital ledger of movements and transactions for all stakeholders in the supply chain network”.

The management of the supply chain has become complicated today. It takes days and sometimes even weeks to process the payment between a customer and a vendor, or a supplier and a manufacturer. Also, the contracts are managed by bankers and lawyers, which adds extra costs and leads to delays.

It is quite difficult to trace back to suppliers of products which can make it challenging to eliminate the defects in the system. The need for more transparency and traceability creates an interest in the application of blockchain in the supply chain.

With the ability to offer transparency and traceability, the blockchain can tackle perennial issues which compromise the effectiveness of the supply chain.