April 7, 2020 The World Economic Forum claims that blockchain can help address supply chain upheavals.

According to Ziyang Fan, Head of Digitial Trade at the World Economic Forum (WEF) and Rebecca Liao, the executive vice president of Skuchain, a blockchain services company, blockchain technology, and digitization can help address supply chain challenges such as the current one brought on by the COVID-19 epidemic. In their blog post, Fan and Liao write that blockchain technology can bring transparency to supply chain networks without compromising privacy. The current crisis has apparently highlighted the fragility of supply chain networks caused by a lack of “visibility across the chain” with many businesses being unaware of their non-immediate suppliers, meaning they cannot assess the risk of disruption to their own supplies.