System and method for forecasting deliveries via blockchain smart contracts
A supply chain forecasting system with blockchain controls is discussed. The supply chain forecasting system can include a central computing system communicating with a third party computing system. The central computing system and third party computing system can initiate, adjust, and fulfill smart contracts associated with the delivery of physical objects using blockchain controls.
1. A forecasting system, the system comprising:
a central computing system comprising:
a non-transitory storage medium storing a set of computer readable instructions and a database comprising a cryptographically verifiable ledger of a sequence of data blocks, each data block containing one or more transaction records and each subsequent data block containing a hash value of a previous data block; and
a processor configured to execute the set of computer readable instructions which cause to the processor to perform the method of:
communicating with one or more third party computing systems via a node of the database comprising the cryptographically verifiable ledger of the database;
generating a first block in the cryptographically verifiable ledger including information associated with a request for one or more physical objects, wherein the first block includes identification information associated with the physical objects, a destination location, and one or more constraints associated with a request for delivery of the one or more physical objects;
receiving a second block from a third party computing system;
verifying, by the node, the second block based on one or more previous data blocks of the cryptographically verifiable ledger;
adding, by the node of the database, the second block to the cryptographically verifiable ledger in response to verifying the second block;
determining, by a control engine, a status of the delivery of the one or more physical objects based on the second block of the cryptographically verifiable ledger;
forecasting, by the control engine a failure of fulfillment of at least one of the constraints stored in the first block based on the status of the delivery determined based on the second block; and
instructing the node of the database by the control engine after forecasting the failure of fulfillment, to generate a third block in the cryptographically verifiable ledger, wherein the third block comprises an action associated with the physical objects identified in the first block.
2. The system of claim 1 , wherein at least one of the one more constraints is one or more of a date and time of delivery, an amount of the one or more physical objects, and a quality of the one or more physical objects.
3. The system of claim 1 , wherein the action is associated with voiding the delivery of the one or more physical objects, adjusting the one or more constraints, or rerouting the delivery of the physical objects.
4. The system of claim 1 , wherein the central computing system is further configured to communicate with one or more user devices and transmit, to the one or more user devices, data indicating:
delivery status of the one or more physical objects; and
the quality value and changes to the quality value of the one or more physical objects.
5. The system of claim 1 , wherein the one or more physical objects are perishable items.
6. A forecasting method, the method comprising:
generating, via a central computing system including a control engine and a node of a database, the database comprising a cryptographically verifiable ledger of a sequence of data blocks, each data block containing one or more transaction records and each subsequent data block containing a hash value of a previous data block;
generating, via the central computing system, a first block in the cryptographically verifiable ledger including information associated with a request for one or more physical objects, wherein the first block includes identification information associated with the physical objects, a destination location, and one or more constraints associated with a request for delivery of the one or more physical objects;
receiving a second block from a third party computing system;
verifying, by the node of the database, the second block based on one or more previous data blocks of the cryptographically verifiable ledger;
adding, by the node of the database, the second block to the cryptographically verifiable ledger in response to verifying the second block;
querying, via the control engine of the central computing system, the database to retrieve information associated with the physical objects;
determining, via the control engine of the central computing system, a status of the delivery of the one or more physical objects;
forecasting, via the control engine of the central computing system, a failure of fulfillment of at least one of the constraints; and
instructing the node, by the control engine after forecasting the failure of fulfillment, to generate a third block in the cryptographically verifiable ledger, wherein the third block comprises an action associated with the physical objects identified in the first blocks.
7. The method of claim 6 , wherein at least one of the one more constraints is one or more of a date and time of delivery, an amount of the one or more physical objects, and a quality of the one or more physical objects.
8. The method of claim 6 , wherein the action is associated with voiding the delivery of the one or more physical objects, adjusting the one or more constraints, or rerouting the delivery of the physical objects.
9. The method of claim 6 , further comprising:
communicating, via the central computing system, with one or more user devices and transmitting data indicating delivery status of the one or more physical objects, and the quality value and changes to the quality value of the one or more physical objects.
10. The method of claim 6 , wherein the one or more physical objects are perishable items.