The blockchain is disrupting various industries, one of them being the Shipping Industry. The parent company of Anheuser-Busch, shipping container firm APL, logistics company Kuehne+Nagel, and a European customs organization recently participated in a pilot with consultancy firm Accenture, to test blockchain for global shipping uses.
The results “confirmed that blockchain can reduce operating costs and increase supply chain visibility,” according to Accenture – Read Full article here
Not only is the blockchain proving to be valuable in the shipping industry, devices connected to the internet are extremely important in logistics, tracking vehicles, measuring product quality along the supply chain, measuring conditions of warehouses etc. Agricultural products are shipped all over the world and blockchain verification plus secure payments is also an integral part of trading these products. Read further here – EOT makes Agriculture Smarter
The Blockchain is also being used by Walmart in their quest for “Smart Package”. This is a device that records information on a blockchain such as the contents of the package, environmental conditions, and location. Read further here – Walmart “Smart Shipping” and the Blockchain
The blockchain is inherently resistant to modification of the data making it immutable. The technology can be integrated into multiple areas and industries to improve efficiency. The blockchain has huge potential to transform business operating models and improve costs in the long term. A welcomed “disruptive technology”.
Related article – IoT and Logistics in 2018
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