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Transportation & Logistics

Why Blockchain for Transportation & Logistics?

Logistics providers move the supply chain forward, transporting goods from location to location as efficiently as possible. Migrating the supply chain to blockchain offers the following opportunities in transportation and logistics:
 

  • Increase transparency in the supply chain with a single source of truth for all parties involved
  • Enable data immutability in a tamperproof distributed ledger to increase trust and security
  • Improve data accuracy and consistency and unlock real-time visibility
  • Use self-executing smart contracts to optimize trade management with transactions that automatically trigger when terms are met

How Blockchain Works in Transportation & Logistics

The blockchain can connect any number of entities on a single, shared, immutable ledger, replacing disparate systems and improving security, traceability and efficiency.

Use Case 1: Luggage & Cargo Traceability

Now

Airlines, passengers and logistics providers lack visibility into the real-time location of their luggage and cargo. As a result, luggage and cargo can get lost easily with no indication of where they disappeared, causing financial losses for airlines and logistics providers and frustration for consumers.

With Blockchain

A blockchain-based traceability solution connects different parties and securely stores information on the location and handling of luggage and cargo. Unique identifiers (QR codes) are scanned to automatically update the distributed ledger with relevant data, increasing transparency and reducing the number of lost bags.

Use Case 2: Vehicle Management

Now

Vehicle information recordkeeping is fragmented, often paper-based and lacking a standard format. As a result, maintenance data and driver logs are often inaccurate, inconsistent or even missing completely, creating a situation where owners cannot prove vehicle history.

With Blockchain

Each vehicle has its own profile full of historical data that is securely stored on the blockchain in a tamperproof distributed ledger. This system increases data quality and enables the ability to digitally share data with multiple parties (owner, customer, operator, etc.).

Use Case 3: Global Trade Management

Now

Global trade cycles are long and convoluted, relying on unreliable and costly paper documentation, wire transfers and middlemen to get goods shipped from point A to B. Parties must wait hours or even days for payments, fees and documentation to clear before goods can be released to the next stage of shipment.

With Blockchain

A blockchain-based trade management platform digitizes documentation to eliminate paperwork, increase data reliability and streamline the process. Self-executing smart contracts significantly reduce how long it takes for products to flow through checkpoints and make middlemen mostly unnecessary.

Have a Use Case Not Mentioned Above?

If the blockchain use case you had in mind isn’t listed here, please let us know and we’ll explore its potential for your enterprise with you!

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