The blockchain is a digitized, distributed ledger that publishes transactions in cryptocurrencies, such as bitcoin, in chronological order. The blockchain soon became known as a revolutionary technology that rivals the inventions of the Internet. IBM disclosed that the technology has the potential to increase global GDP by 5% and boost global trading volume by 15%. Blockchain technology allows networks of companies to share digital books, commonly used for the exchange of assets. As all members have access to the books, the transparency, speed, and cost of the network of businesses and trading companies are all enhanced. IBM predicts that blockchain technology will have far-reaching implications for the logistics and supply chain industries and will help to reduce the amount of corruption and delays that will save the industry. IBM is an initial member of the Linux Foundation Hyperledger project and one of the leading companies that openly source blockchain and provide security solutions and support the open management of the blockchain. IBM has identified three key factors that make blockchain technology an important part of their supply chain. These apply to cross-industry supply chain elements are: 1. Blockchain Enhances Legitimacy and Transparency: The blockchain provides a smart, tamper-proof approach to trading, business processes and transactions. The book is synchronized with the network of members used, and each transaction must be confirmed by all members before being allowed to join the blockchain. As a result, while members of the network are not familiar with each other, the legitimacy and transparency of the transaction are thereby enhanced. 2. Blockchain can improve visibility and trust: members of the blockchain can see all transactions. It also provides visibility into the source of high value merchandise. This helps to reduce settling time, eliminate intermediaries, and reduce costs. As visibility and transparency increase and trust increases, blockchain can help reduce illicit practices, fraud and cybercrime. 3. Blockchain creates a strong ecosystem: Blockchain-based business networks can have different types of members. As business networks evolve, the trust-based ecosystem helps revolutionize transactions, processes, and business models. If blockchain technology is combined with a very secure cloud environment, security and anti-theft protection can be provided. IBM has teamed up with Wal-Mart and Tsinghua University to explore how blockchain can be used to enhance food safety because the transparency of the blockchain can help reduce pollution sources. Everledger, a company that uses blockchains to track and protect diamonds, used the IBM blockchain to create a digital commerce network of worldwide certifications. IBM is also testing the use of blockchain in low-liquid stock exchanges. The company predicts that 15% of banks and 14% of financial institutions will put blockchain technology into operation by 2017. About 53% of banks are expected to create an active blockchain network by 2018. "Some of today's visionaries using blockchain technology are leveraging blockchain technology to reshape many foundational business practices and working with customers to develop open source, permissive, blockchain solutions for businesses, we are witnessing how the technology works Change the way organizations recognize value and do business, "said Marie Wieck, IBM blockchain manager. "The key success factor for these actions is the implementation of top-down implementation support for innovation cases and the introduction of key network participants from the outset."