“We will be led in the following months and years to put blockchain functionalities in place in our roadmap.”

As the Bitcoin is at its height and is currently traded around 50 000 euros, the Blockchain technology, is gaining more and more grounds and its adoption is increasing in every activity sector.

Here is the definition that we can find on the following website economie.gouv.fr :

“Created in 2008, the blockchain is first a technology of storage and data transmission. This technology offers high standards of transparency and security because it works without any central review body. More specifically, blockchain allows its users – connected via a network – to share data without intermediaries.”

Internet of the future for some, illusion without regulations for others, we chose to discuss it with our CEO Manuel Davy, in order to know his view on the subject and its application in the world of Supply Chain.

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What does the blockchain represent for you?

It is a disruptive technology in terms of storage and data certification. It has already begun to revolutionize the world of currency with the bitcoin, and it is beginning to bring many use-cases in industry, for example the insurance through the notion of smart contracts. I strongly believe in its development in every field of human activity that involves transactions.

Manuel Davy, founder and CEO of Vekia

Does this technology have a future in the world of Supply Chain? If it does, what benefits or innovations could it bring?

The supply chain is a tool used to make transactions of physical goods, we will inevitably find blockchain on some payment and insurance aspects. But I believe that most of the use-cases need to still be identified. I have some in mind.

First of all, I think that given the impact of actors such as Amazon, the B2C and B2B clients will become more and more demanding concerning the time of their purchase and the delivery, the reliability of the service and the choice between several products.

The consequence is direct: the stock has to get closer to the clients. But it has a cost, it will be necessary to share this cost between counterparts, even between competitors, namely to have common logistics platforms in the periphery of the large cities.

Blockchain could be used to certify the stock in a warehouse where everything is shared: two identical products, stored at the same place could belong to two competitors. The blockchain will enable to avoid conflicts between them by certifying the property of one or another piece in stock.

Another use-case is linked to the development of the circular economy. Indeed, more and more companies start to put replacement parts that are still in working order back in the circuit in order to be used for devices reparations.

Each piece has a story (number of hours of function, seniority, working order) that requires an individual traceability and some guarantees of its proper functioning. Blockchain brings a technology that allows to secure this information throughout the piece’s life cycle.

We can even consider smart contracts that automatically trigger a reimbursement or a replacement in case of technical failure during the warranty period.

Is it a technology more or less expensive than the technologies currently used?

Difficult to say given that there is no equivalent for now.

What would be for you the limits of the blockchain for the world of the Supply Chain? Is its conception compatible with the latter?

As many new technologies, the limit is in the capacity of the companies to adopt new ways of working. It will have more important success with supply chains that are in the making (new companies) or in important transformation.

Beyond this limit, the blockchain technology is perfectly adapted to the world of the Supply Chain.

Do you know Vechain’s ecosystem? What might be its impact on the supply chains over the coming years?

Vechain is a great example of blockchain application in the supply chain sector, especially the use-case on wine traceability in order to certify their authenticity and avoid counterfeiting.

I think that most of the brands subject to counterfeiting see in it a true solution to certify their own products.

This will largely develop. We can also think about it in the field of medicine, in which the certification of the product is essential, just like food products with a label or a designation of origin.

Could Vekia be led to use this technology in its solution one day?

That is part of the technologies that we follow because it has natural compatibility with the supply chain (transactions). We will be led in the following months and years to put blockchain functionalities in place in our roadmap.

Do you personally own cryptocurrency?

No, the investment in which I believe the most is Vekia.