The Bitcoin has taken the time to revolutionize the financial system. It quickly became apparent that the underlying Blockchain technology is far more capable. Especially for applications in the logistics chain, win-based solutions in importance. The industry takes it straight to the Motor of the innovative technology.
The diversity of application possibilities is virtually unlimited: The energy industry, health care, Cybersecurity, public transport and the education system are just a few examples of areas whose future is linked, in all likelihood, closely connected with the Blockchain. Most of the projects have, as yet, a theoretical existence. Even the financial industry is in the specific implementation of blockchain-based concepts.
Logistics to advance Blockchain and Vice-versa
It looks totally different in the area of logistics: Here, the pilot projects are springing up almost out of the ground. And for good reason: For the Monitoring of a value chain from raw material to finished products, the Blockchain technology is predestined. The more parties are involved in a value chain, the more confusing it can be. The more difficult the errors is then search.
The Blockchain is here to provide a remedy: The Parties may see at any time where an object is, where it came from and where it should go. According to quickly you can identify problems in the supply chain. This saves time and especially money. So it’s no wonder that logistics companies want to use the technology for themselves. So, DB Schenker, the logistics subsidiary of Deutsche Bahn has recently announced a cooperation with the Blockchain platform VeChain. Also, the shipping giant FedEx toying with the technology. The Same applies for the ports of Rotterdam and Antwerp. In Finland last year, was initiated with SmartLog, an EU-subsidized Blockchain-logistics project.
Also, the consumer benefits
Of course, the end user can benefit from the transparency of the Blockchain. Who is about intent on sustainable consumption, the technology allows for the complete traceability of a product. Of the field where the cotton fibres are of my T-Shirts? What factory is it made of? What path has it taken until it landed on the pole of the clothing business? And it is at all Original or not? Questions like these want to accept, for example, projects such as Provenance or SKUchain. Here, too, it is the complete traceability of supply chains.
The Blockchain is gathering momentum, thanks in part to the logistics industry.