Supply Chain Crime Can Be Addressed By Blockchain Strategy, Says Deloitte Study


During the past five years, an average of 31.1 percent of respondents to annual Deloitte polls say their organizations have experienced supply chain financial crime—particularly fraud, waste or abuse—in the preceding year. Yet, in a 2018 poll, just 15.1 percent of respondents report their organizations are using (3.9 percent) or piloting (11.2 percent) blockchain to help mitigate financial crime risks in their supply chains.In an interview with SCMR, Prokop there are still a lot of managers struggling to differentiate fact from fiction in the space. “Allow me to offer a few examples,” said. “ Some people think Blockchain and Bitcoin are the same thing—or that you need to have a cryptocurrency like Bitcoin in order to use Blockchain.  Neither is true”. Also, said Prokop, Some managers still think of Blockchain as new and untested, yet it was conceived of in 2008 and is used in nearly every industry today. “Blockchain is not a technology expected to go away faster than it started,” he added.  “While some organizations are still in early pilot tests for Blockchain, others are using it to manage thousands of transactions each day—and plan to continue doing so for the long haul.”