According to a study on tracking supply chains on the blockchain, the industry’s annual growth will be around 80%, and by 2025 it will exceed $ 9 billion.
According to the report of Allied Market Research, the blockchain will most often be used in the retail sector. Also annual growth will be observed in the health care industry. In addition, the blockchain will be used in the production of food and beverages, as well as the extraction and transportation of oil and gas.
In this case, according to analysts, North America will become the industry leader, although in Asia the pace of technology development will be higher and will be about 90% per year. The researchers noted that the key factors promoting blockchain in the industry are ensuring the transparency of supply chains and improving transaction security.
Recently it became known that Oracle and the World Bee Project are planning to use the blockchain when tracking deliveries of honey. In addition, the largest food company Nestle will develop its own blockchain platform for tracking food supply chains.