INTRODUCTION
Without any doubt I will like to say that the introduction of blockchain technology and the use of cryptocurrency is gradually adding value and transforming so many sectors of the global economy. Due to the unique features of blockchain technology, which include, Transparency, immutability, trustworthiness, Decentralization etc, a lot of projects have recently been integrated into it, in other to leverage on these features. This they believe will help them provide effective and efficient services. Genesis supply chain platform (GSCP) has also been designed to utilize these features in enhancing productivity in businesses globally.
However, as important as business supply chains are to the global economy, over the years, a lot of them have suffered setbacks and most of them collapsed as a result of inefficiency in the method applied in running the businesses.
SOME OF THE FACTORS AFFECTING THE CURRENT MODE OF SUPPLY CHAIN
I. Lack of transparency: this occurs due to the fact that most companies do not have the required tools to adequately monitor and check mate the activities.
ii. Unnecessary regulations by a centralized Authority: most times these centralized Authorities only make laws that favour them and to the detriment of businesses, this may include high tax requirement or other charges.
iii. Delay in product delivery: the current trend of managing businesses with the involvement of middle men have to go through some processes thereby causing unnecessary delay in business transactions.
iv. Lack of Data security : this is one important factor affecting the current supply chain in businesses around the world; inadequate security measures to protect Data usually cause both the businesses owners and the clients to lose trust on each other.
WHY WAS GSC CREATION NECESSARY?
Considering the current challenges affecting the effective business supply chains, a Team of seasoned professionals and experienced men and women in the field of business, Information technology and blockchain related fields decided to design an innovative platform using the blockchain technology. GSC is designed to offer an effective, secure and reliable method of managing businesses which is meant to favour both the merchants and the customers.
THE UNIQUE FEATURES THAT MAKE GSC PLATFORM OUTSTANDING
Interestingly, GSC platform is uniquely designed with great and innovative features that will not only transform Business supply chain globally but will also add value to the global economy and promote the adoption of blockchain technology. Some of the Features are:
i. SMART BUSINESS TRANSACTION: GSCP makes use of the blockchain technology and as a result uses smart contract and open ledger algorithm for transitions. With the smart contract, there is no need to bother about trust, transparency and delays as well as high transaction fees. All these factors are adequately and automatically taken care of by employing the smart contract. Also, the use of smart contract with its Decentralized characteristics will erase the problem of regulations by a central Authority which usually affect the smooth running of business supply chains.
ii. Decentralization: with the use of blockchain , there is an assurance of protection of Data , this encourages supply chain professionals to do business with trust and reliability . With the use of information technology, a user can retrieve information stored on the site whenever the need arises. Also, communication and interaction with other professionals across the globe is made easy on GSC platform.
iii. PARTS AND COMPONENTS CAN BE TRACED. With GCS platform leveraging on the features of the blockchain technology it is easy to trace parts in industries which is a way of guaranteeing transparency and safety. Also since data on the blochcain cannot be changed, a buyer is sure that the product received is original, unadulterated and from the real company.
THE TOKEN A ND USES
GSCP token is a utility token created to serve as the major driver of the GSCP ecosystem. it will be use for several purpose including :
i. Prompt payment for products and services.
ii. Holders of GSCP token will have access to the platform
iii. The products and the industries can be traced using the GSCP token
iv. GSCP is used for payment of rewards and incentives on the platform.
CONCLUSION
GSC platform is a unique idea and like a dream come true for business owners as well as consumers of their products. GSCP is not just going to transform the business world globally but it will also encourage mass adoption of the blockchain technology and the use of cryptocurrency in real life . This is one project every crypto enthusiast should be a part of as we all are affected in one way or the other when it comes to the current archaic mode of business supply chain.
TEAM
For more information please contact the following links:
Websit : https://www.gscplatform.io/
Whitepaper: https://www.gscplatform.io/documents/GSC_WhitePaper_EN.pdf?v=20190120
Telegram: https://t.me/GSCPlatformOfficial
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