Enosi SpA is Pioneering the Application of Web3 in the Supply Chain

August 17, 2022 1:13 AM EDT | Source: ZEX PR WIRE

Roma, Italy--(Newsfile Corp. - August 17, 2022) - Enosi SpA is proudly announcing its new blockchain division aiming to track dates, prices, and certifications to more effectively manage the supply chain. The availability of this information as part of the blockchain can reduce losses due to counterfeiting and gray market (particularly in avoiding frauds for high-value goods such as pharmaceuticals and diamonds), increase the traceability of the raw supply chain, improve the visibility and compliance of outsourced contract manufacturing, and as Enosi SpA CEO Angelo Strazzella says, "Enhance the investing organization's position as a leader in responsible manufacturing."

Additionally, companies can exert greater control over outsourced contracts. Blockchain allows all parties in the supply chain to access the same information, thus reducing data transfer or communication errors. All the time saved in data validation can be used to improve the delivery of goods and services, not to mention quality.

Real use cases

Enosi SpA Blockchain's division can provide more transparent and accurate end-to-end traceability in the supply chain: Organizations can digitize physical assets and create a decentralized immutable record of all transactions, making it possible to track assets from production to delivery or end-user use. This increased supply chain transparency provides greater visibility for both businesses and consumers.

Finally, Angelo Strazzella with Enosi SpA can simplify administrative processes and cut costs by providing effective verification of supply chain data. Procedures involving manual checks for conformity or credit purposes, which can currently take weeks, can be expedited through a distributed record of all relevant information.

The latest Enosi analysis shows that the freight market is costly and difficult today. The stakeholder obligations for transaction compliance and direct or indirect fraud are not governed by any significant implications or rules.

This market is also complicated, which usually leads to unpredictable fluctuations in freight costs in the absence of significant changes in market circumstances.

Enosi develops smart contracts and blockchain technology that can be used to establish a competitive marketplace where businesses can quickly and transparently engage freight carriers.

The level of commitment of businesses will also rise because all contract conditions will be pre-written in smart contracts, meaning that changes will happen automatically and without the need for lengthy talks.

Blockchain enhances transparency such as a decrease in the level of credible information's dependability, which is a direct result of the sector's lack of openness, which is a major issue in supply chains.

It lessens the possibility of documentation errors like incorrectly interpreting the delivery window. Achieving micro-level delivery process control through transparency will help to cut down on theft and inefficiencies.

The technology that streamlines the operation of intricate networks is simply blockchain.

Businesses began a protracted transformation path more than ten years ago as a result of technological advancements in automation possibilities.

Using blockchain in the supply chain

Enosi's CEO and Founder Angelo Strazzella, a pioneer of industry-applied blockchain, made a short but meaningful recap of ten main and derived benefits of the use of blockchain in the supply chain:

Main benefits

  1. Reduce losses due to counterfeiting/gray market.
  2. Improve visibility and compliance of outsourced contract manufacturing.
  3. Reduce bureaucracy and administration costs.
  4. Increase material supply chain traceability to ensure compliance with business standards.
  5. Logistics driven by smart contracts.
  6. Derived benefits.
  7. Reduced potential public relations risk from improper supply chain practices.
  8. Enhance corporate reputation through transparency about materials involved in the production.
  9. Involve all stakeholders to strengthen team spirit within the production chain.
  10. Improving public credibility and trust in the shared data.
  11. Avoidance of the volatility linked to certain local currencies with a payment in a possibly stable cryptocurrency.

About ENOSI and his founder

ENOSI SpA is an international consulting firm founded and led by Angelo Strazzella, entrepreneur who enriches his over twenty years of knowledge in the economic field with +7 years of experience in blockchain and NFT for the supply chain. He's on the Top 100 most influential people in blockchain and a digital transformation expert with +100 industries across Europe in his portfolio.

Media Contact:

Enosi Holding S.p.A.

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