Using blockchain technology and BRC-20 tokens for traceability of supply chains in the bakery industry

Abstract

The article provides a detailed analysis of the BRC-20 tokens, their origin, functionality, advantages, limitations and potential impact on the digital asset space. BRC-20 expands the capabilities of Bitcoin, traditionally known for its peer-to-peer transactions, in the field of tokenization and decentralized financing. The article examines the role of BRC-20 tokens in the dynamically developing field of decentralized finance (DeFi) based on the Bitcoin blockchain. The authors analyze how BRC-20, a token standard adapted for the Bitcoin blockchain, contributes to the expansion of the capabilities and functionality of DeFi platforms. The study highlights the importance of integrating BRC-20 into the DeFi ecosystem to create new financial products and services, while ensuring a high level of security and decentralization. The article offers prospects for the development of DeFi on the Bitcoin blockchain using BRC-20 tokens and assesses the potential impact on the future of the financial sector.