Complete Guideline to launch a Successful Initial Coin Offering

Complete Guideline to launch a Successful Initial Coin Offering

The initial coin offering (ICO), sometimes called the token generation event or token sale, is the subject of much confusion. We will discuss all these things about what types of companies can ICO be used for, and what is the project approach in launching ICO. It is not intended as investment or legal advice, but as a template to show the process behind an ICO, and what the stakeholders (team, board, stakeholders) of a project need to be considered while conducting an ICO.

In today’s time, the blockchain industry is relatively new, there isn’t much information on the subject from a project perspective, and with each new ICO, teams are learning best practices about what is right to do and what not to do. Below is a guide to all the information we collect about the ICO process, including input from people who have had direct experience with the process.

  1. Pre Planning

The first two big questions you need to consider under pre planning are: 1. What is the purpose of the token? 2. Are you sure you want to do ICO?

  • Token 

What is the purpose of the token? What function or utility does it perform? If your application does not need to be built on top of the blockchain protocol, you should think hard before proceeding. For example, the computational cost of building an application on top of Ethereum is much more expensive than something like AWS. You must have a strong reason to build a decentralized application versus a centralized application.

If you are not absolutely sure whether your application should be built on Blockchain or not, it becomes necessary for you to do more research and spend more time learning about Bitcoin and Ethereum. Building a decentralized application is fundamentally different from an application using a client-server architecture, and will require you to fully understand the components of a blockchain and what can be built on top of this new architecture.

  • ICU

An ICO is fundamentally different from raising funds through a VC or other traditional means. On the one hand, you are selling the future use of your platform and not giving up equity. On the other hand, you are working as a public company on the first day. If you have a large community that you may need to manage post ICO, in such a situation you need to make sure that you can deal with this burden well in advance. Here are a few things to keep in mind when thinking about whether it’s a good idea to ICO your project in the first place:

  • Everything you do and all actions you take will be reflected in the price of the token.
  • Your team will bombard you non-stop several times a day, with questions about the price of your tokens.
  • You will need to become an international company from day one.
  • All your internal team discussions are likely to be publicly pursued.
  • There will be a lot of stress in trying to make things worth short term versus long term valuable.
  • If your product is not already open source, then there will be a huge backlash for becoming fully open source. There is a strong expectation that many blockchain projects are open-source projects.
  • In general, cryptocurrency projects are more public/transparent than normal startups, or even traditional public companies.
  • In general, good blockchain projects look and function more like open-source software projects versus traditional tech businesses. You and your team both have to decide whether it makes sense for your application to be built on the blockchain and whether you want to operate as a transparent and open company.
  1. Planning

Once you are ready and committed to do an ICO, the key components in the plan are proposal, whitepaper, token design, legal, precautions against inevitable hackers and communication (website, slack, social, press, are set to be prepared for interviews, etc.).

  • Proposal

The most important question is, how much do you want to raise? And why? The second most important question is, what do you want to achieve with the particular delivery method you are choosing?

  • Ideas
  • For your ICO, are you trying to raise the most money? Are you trying to build a wider base of supporters? Are you thinking of trying to target a specific profile of potential users? Are you trying to encourage developers to build on top of your platform? etc.
  • Other questions to consider
  • For allocation, reservation for your team, investors, partners, ecosystem, what percentage are you giving to the company/foundation?
  • Where will the money you raise go to? For which you need to have an annual budget for the next 5 years.
  • Do you want a hat? If so, which hat would you wear? It depends on the amount you are aiming to increase.
  • Would you like to pre-sale?
  • Depending on your growth goals, pre-sales can be used as social proof and tokens to the people you want to align with the most in your ecosystem. The downside of a pre-sale is that it favors certain people/groups over the participants in a normal crowdsale.
  • If you are pre-sale, you should create a pre-sale booking agreement to reserve a specific amount of allotment for each pre-sale buyer and for those participating in the pre-sale. Be transparent about, at what cost.
  • If you decide to pre-sale, you also need to think about what % of the allocation is distributed in the pre-sale in relation to the % you are selling in the crowdsale.
  • For ICO Itself
  • Which currencies will you accept? Like BTC, ETH, anything else?
  • Do you want to do pre-registration? It is becoming increasingly common for crowds to do some form of “Know Your Customer” (KYC) for those who wish to participate.
  • Are you willing to do the KYC process yourself or use a service like Civic to complete the process?
  • Depending on your goals, do you want to split an even number of tokens to all registrants or first come first served? With a first come first serve, you run the risk of having most of your tokens bought by a small number of people.
  • Will you be rewarded for coming early? tiered pricing?
  • When will you meet? such as 1 day, 3 days, a week, etc.
  • Will you be doing geo-fencing? Barring specific countries from participating, such as approved countries – both US and Chinese investors are excluded from seeing more projects.
  • Will tokens be issued immediately after the completion of the token sale? If not, when?
  • Will you allow funds/institutional investors or only individuals to invest?

In general, you want a well thought out and prepared offer in which all the information is presented to anyone interested in participating in your ICO. The worst offenders are projects that obscure important information, for example hidden hard caps, or not being transparent about token allocation. And projects that change terms mid-fundraising. By doing any of these things you can get more money in the short term but in the long term your reputation of capital will be seriously damaged.

  • White Paper
  • The whitepaper is where everything above comes together and is synthesized into one major document. The whitepaper should cover all the internal workings of your application, how the entire system works, and how the token will be used within the system.
  • Normally, your whitepaper will include all technical information about your project, all information related to tokens, and all relevant information about your team.
  • This single document should give a potential contributor a complete picture of your application and give them enough information to make an informed decision.
  • Technical whitepapers are tough and can easily take 200+ hours of work from a whole team in a very short amount of time. It is also a document where your team takes ownership of creating this document, and much of it cannot be outsourced. Editors can help clear this up, but your team will have to write the bulk of the document.

Once you’ve completed your whitepaper, I encourage you to get detailed feedback from respected figures in the crypto space and the field you’re operating in, as well as the core demographic you’re looking for for your ICO. are targeting. And include the relevant changes before proceeding.

  • Legal
  • You will need a reputable law firm that has experience in incorporating blockchain companies/foundations and running the ICO process to advise you on your process.
  • The biggest legal question you will have to answer is: Is the token you are offering during an ICO a security or not?
  • What do you need to do to reduce concerns that the token could be a security?

Some other legal considerations are as follows:

  • Will you be using SAFT?
  • Are you fencing the offering?
  • Do you want to set up a foundation to be a token steward?

This guide is not intended to be legal advice, so be sure to speak with an attorney who has gone through this process before.

  • Communications

In general, the communication strategy for your team will include all the channels you will use to communicate about your project such as website, whitepaper, Slack, social, etc. All your channels need to be in sync, your entire team needs to be on deck, and you have to respond to people on time. It’s a huge job, of which here are some key components:

  1. Website, which includes:
  • Landing pages for crowd sales (separate from your main product page if you already have one)
  • Well designed pages in general perform better in ICOs
  • Team– Every team member needs a clear and updated LinkedIn profile because potential contributors will do due diligence on each team member.
  • Mentor– Every mentor needs a clear and updated LinkedIn profile because potential contributors will do due diligence on each member of the team.
  • A potential red flag for contributors is when there are more mentors than team members.
  • Budget– can be included in the whitepaper or as a separate section on the website. There is a need for clarity on where the funding is going, and how long it will be projected to last.
  • Depending on the feedback– the budget may be included in a “business whitepaper” (some teams have two white papers one technical and one business-oriented) or on the website. In general, the budget should be kept somewhere clearly and transparently with a record of any changes made to it.
  • Roadmap– can be included in the whitepaper or as a separate section on the website.
  • Depending on the feedback– the roadmap can be incorporated into a “business whitepaper”, some teams two whitepapers one technical and one business-oriented or website. In general, the roadmap should be clearly and transparently laid out somewhere along with a record of any changes made to it.
  • Token allocation– which can be included in the whitepaper or as a separate section on the website. You need to be transparent about what you are selling, the terms of the ICO, and the terms of the pre-sale (if applicable). At a minimum, potential contributors should be able to calculate their effective market cap and understand what will be circulating and total supply. Token allocation and sale information can be included in a “business whitepaper” (some teams include two whitepapers one technical and one business-oriented) or in a website – based on feedback. In general, token allocation and sale information should be clearly and transparently placed somewhere (ideally both the pre-sale terms and the crowdsale terms) along with a record of any changes made to it. Teams should be transparent about this kind of information with no hidden surprises. For example, early pre-sale investors get ridiculous bonuses etc.
  • Contribution Details– To be issued when ICO/Pre-ICO is ready. Be careful as this section can be hacked and the contribution address can be changed to the hacker’s address. See the “Security” section below.
  1. Github

A clean, updated Github repository is required. visit to- Everything that is created should be in a public repository so that potential contributors can review everything in advance. Internal communication channels (Slack, Rocket Chat, Riot, etc.) need to be the main communication channel and the team needs to be active there. Consider hiring a full-time community manager to moderate your chosen communication channel. This community manager can also act as a bridge between the larger community and your internal team.

The channels need to be set up properly and moderated heavily. Example channels such as Announcements, Developers, General, Random, Support, and Scam Alerts (to be able to notify all users of potential scams) The main channel used by teams right now is Slack but for crypto projects about Slack There are some major cons.

1) Slack is not meant for large group communication.

2) Slackbots and scam users are easy to hack.

3) It’s easy to direct messaging users and send false announcements and contribution messages. Read more about the disadvantages of sluggishness for cryptocurrency projects here.

  1. BitcoinTalk

Create a bitcoin talk announcement of the token. Example:

  1. Reddit

Own your own subreddit, brand it, and put up some posts. Example:

  1. Newsletter

Set up a newsletter on your website. Email is the best way to directly share important information with potential contributors on the day of the ICO.

  1. Blog

What is needed is a clean, updated blog, ideally with a history of posts already in place. Example: &

  1. Twitter

Must have a clean and updated Twitter account. Example:

  1. Advertisement

Will you do paid advertising? This is an individual decision that your team needs to make. In general, advertising teams look weak.

  1. Public Relation
  • Press Entering both crypto publications and general news.
  • Interview– Q&A, speaking engagements, technical talks, etc.
  • Events– conferences, meetings, technical talks, dinners, online Q&A sessions, etc.
  • Podcasts– Epicenter, Unchained, Ether Review, etc.
  1. Translation

Translation in a foreign language requires a genuine commitment. You not only need to translate your whitepaper and website, but you also have to translate all subsequent changes and announcements. You may need to hire someone to manage translations for Q&A and inquiries on various social channels. If you decide to translate, you need to target languages. By the way, Chinese/English seems to be the most common.

  1. Community Management

Additional people on staff need to be prepared at all times, across all channels, to answer questions. The more success your ICO achieves, the more community support you may need. In general, you want to have a constant presence on the web before your ICO, during your ICO, and even after your ICO. Potential contributors need to know that your team is serious and in it for the long haul.

  1. Smart Contract / Blockchain / Wallet

Which blockchain will you use? Are you looking for ERC20 tokens? The smart contract needs to be prepared in advance. If you do pre-sale and ICO, you may need two smart contracts and additional considerations and if you are planning to do reservation contract.

Security audit on a smart contract requires you to do it ahead of time and publish the results. Your entire fundraiser is based on this smart contract, so it has to be 100% accurate. If it’s only 99% correct, you leave yourself open to potential hackers. To be extra safe, some projects now have multiple parties conduct their own independent audits and all publish individual results. Set up a bug bounty. You need to set up a wallet that receives ICO payments. The safest options are hardware wallets or multi-sig hardware options. Depending on which currency you accept, you may need more than one setup.

  1. General Safety Tips
  • This is by no means an exhaustive list. If you are concerned you should consult a security engineer who has gone through the ICO process before.
  • Buy all website domains that look like yours and all the different TLD forms of your name.
  • Hackers will try to recreate your landing page with the same domain name as yours, using your own address instead. You also need to be on the lookout for any potential scams after ICO and ICO.
  • Register all social media accounts with names that look like you.
  • Like a website, hackers will also try to copy and spoof your social media accounts and point them to a different landing page than yours. You’ll still need to be on the lookout for it after your crowdsale is over. One trick scammers try to do is “expand their crowd” and deceive potential supporters.
  • Set up Cloudflare on your landing page.
  • Your website has a major vulnerability. Be sure to set up two-factor authentication internally to make changes to your website and monitor your site comprehensively.
  • Restrict the ability to change/commit your page/github/social media/everything. Keep two factor authentication setup on everything – even your own internal team.
  • Turn off Slack API. Slack isn’t set up for public groups raising funds. There are many scam attempts directly involving Slackbot messages, which despite all the warnings admins can’t stop and many people fall for. Even though Slack is the default communication channel, I would consider using another method of public communication or at least controlling the inflow to the token sale.
  • Ask people to bookmark your site, don’t click on links.
  • Do not release your wallet public address until the day of the ICO (simultaneous release on all your communication channels).
  • Remind people not to send their contributions from exchanges like Coinbase. They have to be from the wallet they control.

3. Before the ICO

  • For registration, if you are doing a registration system-based ICO, issue all the details and get people registered in advance. Example:
  • Create a tutorial for registration. Example:
  • The release of a tutorial video and tutorial blog post on how to participate makes everything readily apparent.
  • Create an explanatory video to show you how to buy tokens. You need at least a semi-professional 2-3 minute video with professional voice talent. Set it to private and don’t release it until the day of the ICO. Example:
  • Beware of all potential hackers. Example:
  • Write a blog post about every step of the process.
  • Live Streaming Video Q&A
  • Community Management x100, be prepared – you will find a plethora of questions leading up to the ICO.

4. Day of the ICO

  • Community Management x1000, be ready. On the day of your ICO and in the days leading up to it, the entire team will need to be on call, basically 24/7.
  • Beware of all attack vectors and turn off Slack if necessary.
  • Remind people not to send their contribution from an exchange, they need to send it from the wallet in which they control the private key.
  • Keep sharing the tutorial videos you made for how to participate. Limit sources of truth to a place where people have the information they need to contribute.
  • Livestream on completion of ICO.

5. After the ICO

The top two questions you will get after ICO are:

  1. Where are my tokens?
  • This is easily the number one question. Create a tutorial video (for all combinations of wallets) and post it on all your channels.
  • For people who send their contributions from the exchange, you must reply to them. Unfortunately, his contribution is most likely because he needed to send his contribution from a wallet he controlled.
  1. Which exchange are you going to list? When?
  • Most exchanges have an application page so if you want to get listed on them, start building these relationships quickly.
  • At the same time, various exchanges will list your tokens for sale, whether you want to or not. For example, EtherDelta is a peer-to-peer exchange where anyone can offer any token or currency for sale without your permission.
  • Write blog posts later. Example:
  • Give an update as soon as your ICO is completed. Worst case scenario is you don’t communicate at all and look like you took ICO money and ran away, don’t do it.

6. Project Running

Now that you have a community of 1,000 people (if not more) with their own money invested in your project, you’ll be showered with questions daily. The blessing and curse of a community that really cares, you now have very high hopes for living.

  • Treasury Policy

The fiscal policy is to buy, spend, freeze, discount and burn tokens. If you keep a lot of tokens in the treasury, people will wonder when they will hit the market. If you pay people in tokens without vesting, they can dump them. If you pay in lock-up tokens, you will need to supplement them with some cash. All this requires clear communication, so that people know what is happening. Also, there is a need to inform soon about how tokens are taxed for the team, advisors, investors etc. You need to think quickly about compensation plans for employees and consultants.

Furthermore, if large institutional buyers participated in your pre-sale, there is a huge risk that they will dump a substantial portion of their holdings, depending on how well their ICO is going. If you allow institutional investors, you have to decide whether you will apply the lockup period for them or not. Above all, the most important thing is that you need to be transparent about what is happening.

  • Monetary Policy

Monetary policy is how many tokens there are, how divisible they are, and the inflation/deflation policy you set. You need to be clear and transparent with the policy you set, and if you ever make any changes to it.

  • Money Management
  • Once you’ve raised your funding through an ICO, you’ll need to decide how much of your contribution is cash in fiat, and how much remains in crypto (if any). This is what you should decide before completing the ICO.
  • You should also start negotiating with banks early so that you will have no problem converting funds from token sales into fiat or wiring for company expenses, taxes, etc.

Following all of this will not make the ICO a success, but hopefully it shares a better insight on the whole process from the perspective of the owners of the project team. Fundraising via ICO vs Fundraising via Equity is not any easier, it’s just different. As a team, you really want to make sure that a token sale is the best thing for your company because if you do an ICO for the wrong reasons, you will be stuck with the results for a very long time.

Creating a Cryptocurrency Exchange similar to Binance

Creating a Cryptocurrency Exchange similar to Binance

Since the creation of Blockchain Software Development in 2008, this technology has been successful in making a wide impact across the Internet. Since then till date, many companies across the world have been working towards incorporating blockchain into their business.

In 2008 the pseudonym was invented by an individual or group of individuals known by Satoshi Nakamoto, the blockchain was initially dedicated to bitcoin cryptocurrency. Since then, technology has seen many applications in other fields as well. In this article, we will explain how a cryptocurrency exchange is created, what are the main features of such a platform and what are the 5 stages of your future crypto exchange.

The Way Binance Works

Before deciding how to create a cryptocurrency exchange, it is worth considering how the most well-known crypto platform was built. Firstly, It is mainly important to mention that blockchain, by and large, has become a publicly available, worldwide database. This not only allows anyone in the world to add information to it, but it also makes it indestructible by spreading this information across the network. Data is not stored on a particular location or server, it is distributed everywhere which makes it immutable and more secure than the limitations of any technology that existed before the blockchain.

Further, it is open-source software, from which you can also create your own blockchain. The system is decentralized and cannot be controlled by any one party in the world. Also, editing previously submitted data is not impossible, at least not likely to happen. This has been achieved due to the fact that to optimize any information, extremely powerful computing power is required, and if bitcoin is compromised it will lose its value.

Blockchain for a common user, the use of blockchain in most areas of life does not make much difference. However, there is one area where this technology has gained the most popularity. Following the invention of blockchain as well as bitcoin in 2008, development of other cryptocurrencies began around the world. At the moment, there are about 700 digital currencies all over the net, although not all of them are super popular.

A lot of people started wondering how to start a bitcoin business or something like that (because bitcoin is illegal in some countries). Exchange resources for dealing with such a large number of currencies began to appear. While there are already dozens of exchanges available in the market, they differ by the number of currencies they allow to trade, their commissions, limits, etc. One of the biggest recent upsurges on the cryptocurrency exchange market was Binance.

Complete Information about Binance

Binance is an early Chinese-based company launched in the summer of 2017 by a group of highly experienced experts. It is now headed by its CEO Changpeng Zhao. He previously worked with in Bloomberg as well as in the technical department and thus, was able to build a very strong team for Blockchain app development.

The company has launched ICOs and its own tokens to get things started with cryptocurrency trading software. Initially, it was easy to provide information via whitepaper before China issued a ban on token fundraising, they managed to reach their fundraising goal by mid-September. The funding round raised millions of dollars from venture capitalists.

The launched Binance Coin (BNB) was announced to be released with a limit of 200MM and to demonstrate the possibility of later use within the company for internal service purchases. Binance has also stated that they will eventually buy back half of the tokens issued and destroy them. Currently, ICO has nearly completed its course, exhibiting an impressive number of over 40,000 token holders.

Legend of Binance Take off

Binance is a fairly new player in the digital exchange market, but is already valued at around $ 2 billion. What was it about Binance that attracted so many people to start working with him? First, a clear and transparent idea generated by a highly skilled team with experience in exchange trading. Secondly, a large number of initial coin listings compared to other companies in the industry, as well as much lower trading fees. Each trade conducted from a user is charged only 0.01% and small fees are also charged for currency withdrawals.

Within 6 months, Binance managed to become a highly profitable company with around 3 million users globally and around 100 digital currencies in business. But that is not all that makes Binance different from other exchange companies. In addition to currency exchange, Binance has also created some unique services such as “Gifto ” and “Launchpad ” token sale programs for virtual gifting. They also provide support and guidance for new startups, including but not limited to listings and even cryptocurrency funding.

7 Useful Key Features in Creating a Cryptocurrency Exchange

The cryptocurrency exchange market has proved itself highly profitable if approached properly. The number of exchange platforms has increased but the quality of services of some resources may still be a question. Given that cryptocurrency exchange rates are not regulated, they have risen to unimaginably high levels, however, there is no guarantee of their staying there. On one hand this huge hype around the question of “how to create a cryptocurrency exchange” makes this market quite competitive.

But the more the market develops, the more trust is gained from users, and the more benefit it gets to those who know how to work with it. This is why creating a high quality cryptocurrency trading app is a wonderful idea. So, let’s take a look at what you need to pay attention to starting a cryptocurrency exchange service through the app:

  • Sign in OR Sign Up

A signup or login page is the first thing a user will see, but its main point is not only after registering people but to protect the system from any unauthorized login, hack attacks, or any other type of manipulation. For this reason, this functionality must be very well developed and conform to the highest standards. In addition to the normal login / password combination, there is also 2FA to provide additional security for users.

  • User Verification

One of the reasons why the crypto exchange market is so trusted among users is that every user is fully verified. Depending on the type of verification, verified users usually have more possibilities. For example, clearance limits for verified users are higher than non-verified ones. Verification is important to ensure transparency of trades and reduce the possibility of scams.

  • Deposit OR Withdrawal

This feature allows merchants to deposit money into the internal wallet shown by the cryptocurrency exchange software, as well as withdraw money to the wallet outside the software according to the limits set by the company.

  • Transaction Creation

Each user should have the possibility to buy or sell currency to other users in the system. It is very important that all trades are happening rapidly and without any system error. There should be many possibilities for creating order in the system so that users can choose the time which is convenient for them.

  • Analytics

A very useful feature that allows various graphs and statistics to be created for better visibility.

  • Internal API

Exchange’s own APIs need to allow users to create their own automated trading systems or data exchanges between verified devices using cryptocurrency exchange scripts.

  • Admin Panel

With the help of the admin panel, the employees of the exchange company will be able to monitor trades based on their access levels and manage the actions taken on the exchange.

These are only the main features required for any application of this type. There is much more to be implemented not only to make the app usable but also to make it safe and user friendly.

Steps to Create Cryptocurrency Exchange

Recently, the development process of most applications has been divided into aspects that are handled separately. Different aspects are usually developed by different teams in collaboration with each other. Such moments may include an API, web interface, and more. Their number and variations depend on the complexity of the application. Exchange trading systems such as Binance will require attention to the following app-building aspects:

  • Design

This is the first thing for the client before they start using the application. To develop a harmonic design combining both beauty and utility, we recommend you follow trending best practices and keep in mind the requirements of the product. Design construction consists of the following steps.

1. Wireframe: the basis of future design where its key features are implemented.

2. Prototype: Detailed visualization of user interaction with the application that allows for potential UX-related issues to be prevented.

  • Client-side Development

The web part of the application contains client-side logics of all the pages of the website and is based on a previously designed design. Front-end developers typically design by using HTML, CSS markup and JavaScript programming languages, including the Angular.js, React.js, Vue.js frameworks.

  • API

The API is the back-end part of the application that is not visible to the end-user. The server part of the application is responsible for executing the application’s internal logic and handling basic tasks:

1. User Authentication and Authorization

2. Server-side function of admin panel

3. Newsletter

4. Cryptocurrency bets and user deals

5. API which could be used by third party organizations

  • Blockchain

The part that is responsible for the actual processing and storage of data related to trades between users in a secure environment (any change by either party is impossible for the blockchain).

  • Testing

An essential part of modern application development. This is extremely important as it allows to isolate and eliminate most bugs within the UI, along with the logic before actually launching the application.

  • Security

Since the application is storing sensitive information of its users, it has to be properly secured to prevent potential data leaks and hacking attacks. We recommend securing user information in the following way:

  1. Secure Architecture – When developing the back-end part of an application, focus on creating a secure way of storing and exchanging confidential information. Firstly, the major components of the exchange are located on different servers and interact through dedicated channels. After that the encryption keys are also located on a dedicated secure server.
  1. Authentication of the user – To prevent the possibility of unauthorized login to the user account, it is best to implement two-factor authentication by generating a token once. Additionally, users receive notifications about their account login, specifying the location and IP-address.

Encrypted data is exchanged with the help of the latest algorithm SHA-256, which is currently impossible to hack. This generates a hash – a unique signature of the text that changes each time the initial message is edited. This allows checking whether the sent hash matches the received one, and to find out if the data was edited. Since the hash is not encryption, the original message cannot be decoded


Given the popularity of crypto exchanges all over the world right now, it is understandable why more and more people are incorporating themselves into these systems. Digital currency exchange offers great opportunities for both those who are familiar with the market right now. Are happening and who already have a very good experience. But the market still has some limitations depending on the country or the currency provided and it always means growth potential. Creating a high-quality application for your own cryptocurrency exchange company can bring you great benefits in a very short time.

Blockchain Is Reshaping Supply Chain Industry

Blockchain Is Reshaping Supply Chain Industry

Supply chain is always known to be one of the most complicated industry and thereby integrating blockchain has been acting as a problem solver for supply chain industry . Various other new technologies may also be considered viable , but let’s focus on implementing blockchain and exploring its benefits .

As per the experts , blockchain has superpower of boosting profitability and effectiveness in several business and so is the case with supply chain industry . While supply chain industry is dealing with many kind of difficulties , integrating tech solution is what it needs . Integrating blockchain can help supply chain industry in managing complexity with ease and thereby creating links between various distribution channels .

In this article , let’s look forward to how blockchain technology can help improve overall process and can up bring transformation in this industry .

Blockchain – A Gleaming Twilight In Supply Chain 

If you ever had a change to experience supply chain industry cumbersome process , then you may have found that how hard it is to trace products and parts , and there is always a chances of mistake . Inspite of numerous of positive steps has been taken , this industry is full of headache irrespective of whether it is electronic , food , consumer goods or anything else .
Another major aspect is product has to go back and forth several time , which creates a challenge .
All the above problems can be solved by use of blockchain technology . In continuation to it , cryptocurrency transfer can also solve many transaction related issues . Blockchain has capability to manage exchange of currency , tracking of process as well as take care of agreements while helps supply chain industry in various aspects . Blockchain mobile app development is also trending now a days thereby giving various types of benefits .
Let’s take a glimpse of ways in which this technology can help enhance supply chain .

Blockchain Impact On Supply Chain 

Automotive Payments 

Blockchain is surprisingly amazing technology which aids in carry on and tracking of transactions in more secured and transparent way .
Blockchain has ledger system which facilitate payee and payer to directly exchange funds from anywhere in the world without any intervention of any authority to validate the transactions . In addition to it , it also gives advance security and rapid transaction in comparison with other types of payment .


Another great feature of this technology is easy tracking of items . It facilitates companies to work with various kinds of distributed channel that can record various products status during various stages . Blockchain records in a system which is immutable and permanent . Tracking of even  individual product from original source is very easy . For instance , Walmart is using blockchain technology to track down all sales in China .
Blockchain facilitates companies to track even a single piece of item right from creation stage to process and thereon storage . It also helps tracking by applying various kinds of filter like date , selling date and various other aspects .

Electric Power Micro Grids

This system helps management of supply . After arrival of smart contract in Blockchain , another ray of possibility has emerged . Smart contracts facilities buying and selling of tangible as well as intangible products less hectic .

How Blockchain Will Impact Supply Chain ?

While some leaders in the world are already using this technology , experts suggest that blockchain will become universal ” supply chain operating system ” . There are various ways in which they can help improve supply chain task , let’s look at some of them :

  • Recording of quantity and transfer of valuable goods can be done with ease at each node of supply chain .
  • Tracking of purchase order , receipts , orders changes , shipment notifications and other related things has become easier .
  • Checking validity and certification of products has become easier .
  • Linking of physical goods to demographic entities such as bar code , serial number like RFID etc .
  • Exchanging information related to manufacturing , delivery , assembly as well as maintenance of products between vendors and suppliers .

How Blockchain Integration Will Be Beneficial 

  • Improved Transparency : This technology helps tracking of product right from production stage till its final delivery and thereby eliminating bias data if any .This also facilitates supply chain industry to get transparent and enables manufacturer to reduce number of data recalls .
  • Scalability : The reason why it is scalable is it facilitates access of data of supply chain node to be from anywhere   
  • Improve Security : While blockchain is known to be regularised distributed ledger system with predefined coding rules , it reduces need for audit that generate internal system .

If you are also looking for blockchain technology exploration , you can hire expert consult for your next big blockchain application development .