What is it?
Semiconductor, electronics and equipment manufacturers today face a number of logistics and supply chain challenges that could be overcome by systems providing a secure, tamper-resistant, single source of truth. Chief among these challenges is limited data sharing due to data security barriers among suppliers, shippers, manufacturers and test houses, an impediment to achieving optimal product quality and regulatory compliance. Additionally, inefficient and inadequate processes for tracking goods make it more difficult to isolate shipping problems, track faulty parts and verify product authenticity. Counterfeiting has become a serious problem that costs US-based semiconductor manufacturers $7.5 billion annually.
Blockchain functions could help alleviate many data sharing pain points in manufacturing. Blockchain’s distributed functionality, bundled security measures, and associated features such as smart contracts have the potential to help manufacturers quickly trace goods, manage records transparently, and automate supply chain processes and payments. No isolated blockchain platform would solve all of these problems on its own. But, when combined with other solutions and applied to particular use cases, blockchain has the potential to optimize operations and foster an environment of trust and collaboration among consortium members.
Further Reading:
How Blockchain-Based Semiconductor Chips Open New Opportunities
What opportunities are available in South Carolina?
Who is in the industry in South Carolina?
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