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Blockchain Technology

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2 views

Blockchain Technology

Uploaded by

sunny.jaiswal4
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Blockchain for

Enhanced Supply
Chain Transparency
and Efficiency in
Coal Logistics
G R O U P N O. 0 7
RA JA P R I YA N S
NIRMALA SINGH
S U N N Y JA I S WA L
N E E RA J PA N D E Y
At its most basic level, blockchain is literally just
a chain of blocks.

When we say the words “block” and “chain” in


this context, we are actually talking about digital
information (the “block”) stored in a public
database (the “chain”).

WHAT IS A BLOCK CHAIN ?


A blockchain is a decentralized, distributed digital ledger that records
transactions across many computers in the form of a chain of Blocks in a
way that the registered transactions cannot be altered retroactively.

WHAT IS A BLOCK CHAIN ?


Evolution of Blockchain

Blockchain technology first came into existance


with the Hashcash algorithm in 1997.
Lather it was developed by Satoshi Nakomoto in
2008 after developing consenses algorithm for
tranctions using bitcoin.
Bitcoin transaction is the first application of
block chain technology.
How the Blockchain works?

In simple terms, a Block contains its own Hash, Hash of the


previous Block and the recorded transaction/data.
How the Blockchain works?
Blockchain Technology

Blockchain technology consists of blocks of information


linked by a particular computer algorithm.
A blockchain is a growing list of records, called blocks that
are linked using cryptography for use as a distributed ledger.
A blockchain is a typically managed by a peer to peer
network collectively adhering to a protocol for inter-node
communication and validating new blocks.
Thus blockchain technology is inmutable.
Key Components of Blockchain

Nodes- Computers in the blockchain network that maintain and


validate the ledger.
Transactions- Records of actions (e.g., transfers of assets) that
are entered into blocks.
Consensus Mechanisms- Methods for nodes to agree on the
validity of transactions, e.g. Proof of Work, Proof of Stake etc.
Smart Contracts- Self-executing contracts with the terms
directly written into code.
Types of Blockchain

Public Blockchain- Open and accessible to anyone (e.g.,


Bitcoin).

Private Blockchain- Restricted access, often used within


organizations.

Consortium Blockchain- Controlled by a group of


organizations.
Key Features/Advantages of Blockchain
Decentralization: no single point of control
Immutability: tamper-proof and unalterable.
Transparency: all transactions are publicly visible .
All participants have access to ledger
Consensus: network agreement on transaction
validity
Smart contracts: self-executing contracts with
automated rules
Security: Cryptographic techniques ensure data
integrity and confidentiality.
Efficiency- Reduced need for intermediaries and
faster transaction processing.
Applications of Blockchain
Technology
Cryptocurrencies- Bitcoin, Ethereum
Supply Chain Management- Tracking products from
origin to consumer.
Healthcare- Secure sharing of patient records.
Voting Systems- Secure and transparent voting
processes.
Smart Contracts- Automated agreements in various
industries.
Benefits of Blockchain in Supply Chain-
Enhancing Supply Chain Transparency and
Efficiency
-Real-time tracking and monitoring
-Improved accuracy and reduced errors
-Increased trust and collaboration among stakeholders

-Automated processes and reduced manual


intervention
-Enhanced security and reduced risk of fraud
-Improved inventory management and reduced waste
-Increased supply chain visibility and control
-Better decision-making with real-time data
Challenges in Supply Chain
Management in Coal Logistics
 Inefficient Tracking and Monitoring Methodology Used
 Delays in transportation and delivery
 High Cost in Most Processes due to Inefficient Manual processing
System
 Limited visibility and control for stakeholders
 Inability to track coal quality at origin and Destination
 Inefficient payment and settlement processes

The above issues leads to Lack of transparency and trust among


stakeholders
Real-World Applications of
Blockchain in Coal Logistics
Coal mine to port tracking: monitoring coal movement and
quality
Quality control and certification: ensuring compliance with
standards
Payment and settlement automation: streamlining financial
processes
Supply chain financing: enabling access to capital for suppliers

Inventory management: optimizing coal storage and handling


Phased Rollout and Integration

Stakeholder engagement and education: building awareness and


support
Blockchain platform selection and customization: choosing the
right solution
Phased rollout: starting with a pilot project and scaling up
Integration with existing systems: ensuring seamless interaction
Training and support: ensuring successful adoption
Monitoring and evaluation: assessing performance and impact
Overcoming Hurdles in
Blockchain Adoption
Scalability and interoperability: ensuring seamless interaction with existing
systems
Regulatory frameworks and compliance: navigating legal and regulatory
requirements
Change management and adoption: addressing resistance to new technology

Security and privacy concerns: ensuring data protection and security


Limited understanding and expertise: addressing knowledge gaps
High upfront costs: investing in infrastructure and development
Integration with existing infrastructure: ensuring compatibility
Transforming Coal Logistics with
Blockchain
Future outlook: potential for widespread adoption and
innovation
Call to action: encouraging stakeholders to explore
blockchain solutions
Final thoughts: emphasizing the importance of
collaboration and adoption

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