Today, we are living in a digital world. Newer systems and technology are shaking the foundations of almost every industry. Artificial Intelligence (AI), Machine Learning, Internet of Things (IoT), and blockchain are changing the rules of the game by introducing more decentralization, transparency, and trust without intermediaries in various business applications. This is especially true for the supply chain management industry which is currently witnessing a sea change as newer technologies become available to them. The global market for supply chain management software is expected to reach $32 billion by 2021 with further growth potential thereafter. However, this also means that there are plenty of opportunities out there for businesses that can provide solutions to these problems in innovative ways. In this blog, we will be exploring what Xiden is and how does it work? https://bit.ly/3QR9jR6
How Does Xiden Work?
Xiden is a blockchain-based supply chain management platform that uses smart contracts to achieve the desired results. It is a decentralized platform which means that no single entity has control over the platform. Its architecture consists of a distributed network of nodes that keeps track of the system’s health and performance. One of the key features of Xiden is that it is a multi-industry platform. The users of Xiden can switch between different industries seamlessly. It supports several industry types such as supply chain, aviation, automotive, food, pharmaceutical, and retail. This also means that there is room to scale the platform further. https://bit.ly/3QR9jR6
What is Xiden?
Xiden is a decentralized supply chain management platform that uses blockchain technology to manage its business operations. It is designed for the multimodal supply chain industry. With Xiden, companies can manage their goods, people, and information more efficiently and with less cost. Xiden aims to improve the way businesses handle their supply chain processes by introducing transparency and efficiency in their operations. Xiden allows stakeholders to connect and transact with each other in the supply chain with ease. It also allows businesses to make informed decisions based on real-time data. https://bit.ly/3QR9jR6
Key Features of Xiden
The key features of Xiden include - • Businesses – Xiden allows businesses to connect with each other in the supply chain, manage their inventory and assets, and also collect data about their operations. • Customers – Retailers and other end customers can use Xiden to track their shipments. They can also use an app to track their orders and the process of their delivery. • Transactional Platform – Xiden has a transactional platform where all parties involved in the supply chain can carry out their tasks with ease. • Authentic data – Xiden provides authentic data by using blockchain technology. It also uses AI to provide accurate data at all times. • Fraud protection – Xiden uses AI and Big Data to detect frauds and minimize the risk of frauds to the lowest possible level. https://bit.ly/3QR9jR6
Benefits of Using Xiden
The benefits of using Xiden include: - Enhanced transparency: Xiden’s blockchain-based distributed ledger technology makes the platform transparent and easy to audit. All parties involved in the supply chain can view their data and activities on the platform. - Reduction in the supply chain cycle time: the real-time data provided by Xiden allows businesses to make better decisions. This results in faster and more accurate shipment of goods. - Reduction in costs: Xiden’s AI algorithms allow businesses to plan their activities more accurately. This results in reduced costs since there will be fewer mistakes and delays. - Reduction in the risk of fraud: Xiden’s AI algorithms detect and prevent frauds from taking place, thus reducing the risk of loss. https://bit.ly/3QR9jR6
Conclusion
Xiden is a blockchain-based supply chain management platform. It aims to improve the way businesses handle their supply chain processes by introducing transparency and efficiency in their operations. Xiden allows stakeholders to connect and transact with each other in the supply chain with ease. It also allows businesses to make informed decisions based on real-time data. Xiden’s key features include business management, an app for customers, a transactional platform, authentic data, and fraud protection. The benefits of using Xiden include enhanced transparency, reduction in supply chain cycle time, reduction in costs, and reduction in the risk of fraud. https://bit.ly/3QR9jR6