There is a new addition to the list of industries that are being conquered by the inevitable advance of the Blockchain. Today, it is steadily permeating the logistics sphere, which seems to be a perfect fit for the technology. This year we have witnessed the market signaling rising interest to how Blockchain can change the logistics and transportation industries.
Logistics and Blockchain: a perfect match
Blockchain, the underlying technology of Bitcoin, is in essence a very secure and effective way to share information between parties. It creates an immutable digital ledger of transactions which is maintained by a distributed network of computers.
The sharing potential of this technology, it’s tamper-proof architecture and full transparency makes it a perfect instrument to revolutionize the way we handle supply chains today.
Logistics is defined as a planning framework for the management of material, service and information flows. The logistics of physical commodities usually involves the integration of information flow, transportation, warehousing and often security.
Logistic chains often span numerous steps and hundreds of geographical locations. Understandably, this makes it increasingly harder to trace events in the entire chain, verify and validate the goods being transported and quickly react to unforeseen circumstances.
Sourced at:https://cointelegraph.com/news/logistics-industry-next-step-to-global-economys-blockchainization
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