The Future of Supply Chain Security

In this episode of Rethinking Supply Chain, Venzee CEO, John Abrams, is back with Boex Founder, Sean Copeland, to delve deeper into the future of supply chain innovation and trade data security. Currently, John still sometimes has to use a fax machine to get data to a manufacturer because they are so far behind. But the future of supply chain management is going to change drastically -- and soon.COVID-19 has highlighted the deep inefficiencies that exist in supply chain management today, and in Sean’s experience at Boex, since the beginning of the pandemic they’ve had an influx of requests for data protection services connected with digitizing their supply chain logistics.Even as recently as five years ago, trade contracts were done physically on paper, but today, companies want to streamline the legal process and ensure security. Using blockchain technology, Boex helps all stakeholders along supply chain networks encrypt their sensitive data, driving down to the single word or letter level. Boex helps create digital trust through blockchain which can be audited, is timestamped, and has geolocation embedded. All of the data surrounding a transaction can be conveyed instantaneously and securely online.So why aren’t more companies embracing blockchain technology? Sean talks about fear, not only from company CFOs, but also from the transportation industry and legal communities who feed off of paper trails generated in ports and transport hubs. However, as Sean points out, the pandemic has disrupted the dynamics of the entire system, and with the technology that his company provides becoming more readily available, investors are going to start noticing and get on board. John and Sean talk about how in just 10-15 years, 3D printers are going to completely revolutionize the entire supply chain system, making hubs like sea ports obsolete. Now is the time to invest in online supply chain security to stay ahead of the curve when these predictions become reality.To learn more about Boex, go to https://boex.biz/ or reach out to Sean directly at [email protected].