With blockchain technology now being implemented within various industries, we look at the use cases it has within transport and logistics
Blockchain can provided added visibility, among other benefits.
The transport and logistics sector is becoming increasingly digitised as supply chain management and visibility remain as important as ever, and both are key areas that can be improved by blockchain.
This feature will explore in detail the various use cases that blockchain brings to transport and logistics.
One general benefit that blockchain provides is transparency across supply chains, from production to distribution.
Aparna Jue, product director at IOHK, explains how food distributors in particular can benefit from the technology in this way.
For consumers, the provenance of goods is becoming increasingly important, said Jue. They want to know where the products they choose have come from, and whether they have been produced and transported in ethical and/or environmentally sustainable ways.
This is where blockchain comes in. Producers can use this affordable technology to address consumers requests for transparency, providing comprehensive information on the origin, production methods, supply chain journey and environmental footprint of their products.
For example, IOHK is currently working with Wyoming-based Beefchain, whose blockchain-based software for supply chain traceability of beef products from ranch to plate is the only US Department of Agriculture approved software of its type. Beefchain has worked with IOHK to harness our proprietary blockchain, Cardano, to trace the origin and movement of beef from farm to table.
Through blockchain, consumers can access significantly more detail than ever before, from where and how a calf was raised even down to who fed a cow on what day, though to how both the cattle and the beef was transported.
Mike Bhaskaran, chief operations officer at DP World, discusses the need for offline as well as online integration in digital transformation of supply chains. Read here
Jitendra Thethi, blockchain lead at Altran, expanded further on the added transparency that blockchain can provide to customers.
Provenance uses a blockchain to register every step of the production process, he said. This ensures that the transfers of ownership are explicitly authorised by their relevant controllers without having to trust the behaviour or competence of an incumbent processor.
For the different participants in the supply chain, different software solutions exist to access the blockchain, to extract the relevant information for this participant and to confirm the step in the production process. Afterwards, the buyer can scan the product, whether this be via a QR-Code or NFC, and access the information from the blockchain to check every step of the production process.
In addition, Jue went on to explain how blockchain can level the playing field across sections of food and beverage logistics.
She said: If we think about the coffee industry, for instance, smaller coffee farmers in countries like Ethiopia may lack the capital to invest in the traceability solutions needed to complete traceability from source to supply. This is not the case for larger coffee producers, who not only have access to more resources, but also to the latest technologies.
While larger farmers are able to use their access to secure certificates concerning the sustainability, traceability and provenience of their coffee beans, smaller farmers lack access to the technology needed to store these records, but without them multinational companies are unlikely to select them as suppliers. As a result, the space is dominated by a few large suppliers.
By using blockchain in sectors like coffee and agriculture, all farmers need to access traceability solutions is a basic GPRS-enabled mobile phone, of the type that have been available for 20 years. With one of these, farmers can become part of a global network.
Blockchain, by enabling them to evidence the transportation and traceability of their products via a phone app, therefore ensures the removal of layers of proverbial middle men. This connects SMBs with major supply chains in a secure, transparent manner that fosters economic growth.
In light of the disruption caused to revenue by Covid-19, SMEs need to reduce their IT spend by evaluating it. Read here
Blockchain within transport and logistics can also be used to settle agreements between vendors and distributors, without the need for paperwork.
Blockchain has been used to log and authenticate goods, shipment receipts, and other aspects, which in turn triggers payments, said Thethi. If a component has GPS capabilities, location enforcements can be in effect, just as other means of enforcement are possible using various sensors.
For example, IBM and Maersk tested blockchain in shipping container tracking. The goal was to reduce effort and paperwork.
Through the blockchain-based platform, they can access and act upon relevant information. Shippers, freight forwarders, ocean carriers, ports and customs authorities can be future participants.
For distributors, knowing where their products are at any one time is vital, and this is another area where blockchain can be of assistance.
Erminio Di Paola, vice-president, transport & logistics applications at HERE Technologies, explains how combining location data with blockchain can increase accuracy.
Adding location intelligence to blockchain provides numerous benefits for transport and logistics, said Di Paola. By layering reliable location data with the intrinsic security of the blockchain distributed ledger function, it provides 100% certainty that an asset is being used at the right place, at the right time, by the right person.
In the context of a large-scale shipping operation, for instance, there may be thousands of containers filled with millions of packages or assets. Using a system that can track every asset with full certainty, any concerns can be eliminated about whether the items are where they are supposed to be, or if anything is missing.
A recent Information Age and Information Builders roundtable discussed how the transport and logistics sector is harnessing the power of data. Read here
Lastly, blockchain can be utilised within fraud detection practices, with it being able to help distributors determine the legitimacy of delivery details.
Layering mapping capabilities and rich location data to a blockchain record also enables fraud detection, continued Di Paola. Without blockchain, it cannot be certain that the delivery updates provided are in fact accurate.
Blockchain makes transactions transparent and decentralised, enabling the possibility to automatically verify their accuracy by matching the real location of an item with the location report from a logistics company.
As every computer in the network has its own copy of the blockchain, this helps to eliminate a single point of failure or fraud.
Read this article:
Blockchain use cases within transport and logistics - Information Age
- Blockchain: The Complete Guide | WIRED [Last Updated On: February 6th, 2018] [Originally Added On: February 6th, 2018]
- What Is Blockchain Technology? - cbinsights.com [Last Updated On: February 6th, 2018] [Originally Added On: February 6th, 2018]
- 7 Ways Blockchain Will Enable Entrepreneurs in 2018 | Inc.com [Last Updated On: February 6th, 2018] [Originally Added On: February 6th, 2018]
- Blockchain technology | Microsoft Azure [Last Updated On: March 26th, 2018] [Originally Added On: March 26th, 2018]
- Blockchain Wallet on the App Store - itunes.apple.com [Last Updated On: May 5th, 2018] [Originally Added On: May 5th, 2018]
- Bitcoin and Blockchain - Bloomberg [Last Updated On: May 5th, 2018] [Originally Added On: May 5th, 2018]
- Blockchain - The Daily Reckoning [Last Updated On: May 5th, 2018] [Originally Added On: May 5th, 2018]
- BIS show London - Blockchain Conference London | FinTech ... [Last Updated On: July 14th, 2018] [Originally Added On: July 14th, 2018]
- 2018 Bahamas Blockchain & Cryptocurrency Conference [Last Updated On: July 27th, 2018] [Originally Added On: July 27th, 2018]
- WORLD BLOCKCHAIN CONFERENCE [Last Updated On: August 20th, 2018] [Originally Added On: August 20th, 2018]
- Azure Blockchain Workbench | Microsoft Azure [Last Updated On: September 29th, 2018] [Originally Added On: September 29th, 2018]
- Crypto Guru on Bitcoin, ICOs, Blockchain, ETFs, & More ... [Last Updated On: September 29th, 2018] [Originally Added On: September 29th, 2018]
- Dot Blockchain Media [Last Updated On: September 29th, 2018] [Originally Added On: September 29th, 2018]
- 75 banks join JPMorgan-led blockchain payment project ... [Last Updated On: September 29th, 2018] [Originally Added On: September 29th, 2018]
- Walmart will use blockchain to ensure the safety of leafy greens [Last Updated On: September 29th, 2018] [Originally Added On: September 29th, 2018]
- Malta wants to become 'Blockchain Island' [Last Updated On: September 29th, 2018] [Originally Added On: September 29th, 2018]
- Walmart is betting on the blockchain to improve food safety ... [Last Updated On: September 29th, 2018] [Originally Added On: September 29th, 2018]
- From Farm to Blockchain: Walmart Tracks Its Lettuce [Last Updated On: September 29th, 2018] [Originally Added On: September 29th, 2018]
- The Truth About Blockchain - Harvard Business Review [Last Updated On: October 2nd, 2018] [Originally Added On: October 2nd, 2018]
- Blockchain.io | Your Gateway to the Internet of Value [Last Updated On: October 17th, 2018] [Originally Added On: October 17th, 2018]
- Blockchain Whispers: The Most Accurate Crypto Signals [Last Updated On: December 8th, 2018] [Originally Added On: December 8th, 2018]
- MLG Blockchain - Expert Blockchain Consulting & Development [Last Updated On: December 10th, 2018] [Originally Added On: December 10th, 2018]
- What Is The Blockchain? - Pixel Privacy [Last Updated On: December 27th, 2018] [Originally Added On: December 27th, 2018]
- Blockchain Wallet: Bitcoin on the App Store [Last Updated On: January 13th, 2019] [Originally Added On: January 13th, 2019]
- The Ultimate Guide To Understanding What A Blockchain Is ... [Last Updated On: March 20th, 2019] [Originally Added On: March 20th, 2019]
- Amazon Managed Blockchain [Last Updated On: March 20th, 2019] [Originally Added On: March 20th, 2019]
- What Is Blockchain? The Complete WIRED Guide | WIRED [Last Updated On: March 20th, 2019] [Originally Added On: March 20th, 2019]
- Symmetry [Last Updated On: March 28th, 2019] [Originally Added On: March 28th, 2019]
- What is Blockchain Technology? A Beginners Guide [Last Updated On: April 18th, 2019] [Originally Added On: April 18th, 2019]
- Yosemite X uses blockchain tech to shorten payments trip ... [Last Updated On: April 20th, 2019] [Originally Added On: April 20th, 2019]
- BitcoinSVs blockchain is struggling with its enormous 128MB ... [Last Updated On: April 20th, 2019] [Originally Added On: April 20th, 2019]
- Jimmy Song discusses Bitcoin, blockchain, and the crypto space [Last Updated On: April 20th, 2019] [Originally Added On: April 20th, 2019]
- Blockchain on AWS [Last Updated On: May 5th, 2019] [Originally Added On: May 5th, 2019]
- Blockchain Login Blockchain [Last Updated On: June 7th, 2019] [Originally Added On: June 7th, 2019]
- German telecom giant hires blockchain professor hopefully, its a good thing - The Next Web [Last Updated On: September 25th, 2019] [Originally Added On: September 25th, 2019]
- Israeli Startup Creates Offline Wallet With Access to the Blockchain - CoinDesk [Last Updated On: September 25th, 2019] [Originally Added On: September 25th, 2019]
- Overstock seeks blockchain stock registration with SEC - CoinGeek [Last Updated On: September 25th, 2019] [Originally Added On: September 25th, 2019]
- Telefnica Making Provisions Not To Miss The Blockchain Boat - Forbes [Last Updated On: September 25th, 2019] [Originally Added On: September 25th, 2019]
- Verizon and Wells Fargo Are Getting on the Blockchain - Market Realist [Last Updated On: September 25th, 2019] [Originally Added On: September 25th, 2019]
- Blockchain Mortgages Could Help The Impending Recession - Forbes [Last Updated On: September 25th, 2019] [Originally Added On: September 25th, 2019]
- The Smartest Way to Buy Blockchain Stocks - Zacks.com [Last Updated On: September 25th, 2019] [Originally Added On: September 25th, 2019]
- Vodafone litters London with blockchain tokens in new augmented reality game - The Next Web [Last Updated On: September 25th, 2019] [Originally Added On: September 25th, 2019]
- 5 Enterprise Blockchain Stories of the Week - Forbes [Last Updated On: September 25th, 2019] [Originally Added On: September 25th, 2019]
- ternity Partners with Uruguay Can to Track Cannabis Production on the Blockchain - GlobeNewswire [Last Updated On: September 25th, 2019] [Originally Added On: September 25th, 2019]
- Putting blockchain technology to good use - ComputerWeekly.com [Last Updated On: September 25th, 2019] [Originally Added On: September 25th, 2019]
- Blockchain simplified: How it eliminates the middleman - Big Think [Last Updated On: September 25th, 2019] [Originally Added On: September 25th, 2019]
- Building On Blockchain Without Code: Proxeus Goes Live - PRNewswire [Last Updated On: September 25th, 2019] [Originally Added On: September 25th, 2019]
- Googles Quantum Computing Breakthrough Brings Blockchain Resistance Into the Spotlight Again - Forbes [Last Updated On: September 25th, 2019] [Originally Added On: September 25th, 2019]
- Five things to know about blockchain and CRE - REjournals.com [Last Updated On: September 25th, 2019] [Originally Added On: September 25th, 2019]
- Blockchain Technology Is Already Improving Lives At 22 Hospitals - Forbes [Last Updated On: September 25th, 2019] [Originally Added On: September 25th, 2019]
- How Blockchain Is Changing The Game For Social Impact Initiatives - Forbes [Last Updated On: September 25th, 2019] [Originally Added On: September 25th, 2019]
- The Shift Toward Decentralized Finance: Why Are Financial Firms Turning To Crypto? - Forbes [Last Updated On: October 1st, 2019] [Originally Added On: October 1st, 2019]
- Could Blockchain Revolutionize the Real Estate Industry? - RisMedia.com [Last Updated On: October 1st, 2019] [Originally Added On: October 1st, 2019]
- Cross Reality And Blockchain - A New Era Of The VR Industry - Forbes [Last Updated On: October 1st, 2019] [Originally Added On: October 1st, 2019]
- Vontobel to offer structured product using blockchain technology - Investment Europe [Last Updated On: October 1st, 2019] [Originally Added On: October 1st, 2019]
- MineRP to partner with Karuschain to adopt blockchain platform - Mining Technology [Last Updated On: October 1st, 2019] [Originally Added On: October 1st, 2019]
- Stellar Development Foundation proposes to disable inflation mechanism from its protocol - The Block Crypto [Last Updated On: October 1st, 2019] [Originally Added On: October 1st, 2019]
- BurstIQ raises $5.5M to bring blockchain to the healthcare space - VatorNews [Last Updated On: October 1st, 2019] [Originally Added On: October 1st, 2019]
- Blockchains Next Frontier: Saving the Planet (and Possibly Pandas, Too) - Observer [Last Updated On: October 1st, 2019] [Originally Added On: October 1st, 2019]
- Mark Cuban bullish on blockchain, but would take bananas over bitcoin - The Block Crypto [Last Updated On: October 1st, 2019] [Originally Added On: October 1st, 2019]
- Energy Industry Blockchain Landscape - The National Law Review [Last Updated On: October 1st, 2019] [Originally Added On: October 1st, 2019]
- US Homeland Security grants blockchain credentialing contract to Danube Tech - Ledger Insights [Last Updated On: October 1st, 2019] [Originally Added On: October 1st, 2019]
- U Wyoming Spurs Blockchain Development with Hackathon 'Stampede' - Campus Technology [Last Updated On: October 1st, 2019] [Originally Added On: October 1st, 2019]
- How the blockchain is inspiring organizational design - Quartz [Last Updated On: October 1st, 2019] [Originally Added On: October 1st, 2019]
- Blockchain At The United Nations Leading Solutions To The Global Crisis - Forbes [Last Updated On: October 1st, 2019] [Originally Added On: October 1st, 2019]
- Exploring cryptocurrency and blockchain in Iceland - Penn: Office of University Communications [Last Updated On: October 1st, 2019] [Originally Added On: October 1st, 2019]
- Will Facebook's Libra Overtake Bitcoin Cryptocurrency And The Ethereum Blockchain? How Will It Work? - Forbes [Last Updated On: October 1st, 2019] [Originally Added On: October 1st, 2019]
- Overstock.com Hones In On Blockchain Identity With Medici Ventures And Evernym Partnership - Forbes [Last Updated On: October 1st, 2019] [Originally Added On: October 1st, 2019]
- How Blockchain Is Affecting The Marketing And Advertising Industry - Forbes [Last Updated On: October 1st, 2019] [Originally Added On: October 1st, 2019]
- Japanese Messaging App LINE Positioning Itself As Leader In Blockchain and Crypto Space - Forbes [Last Updated On: October 1st, 2019] [Originally Added On: October 1st, 2019]
- Could Blockchain Help the Cannabis Industry? Were About to Find Out - Observer [Last Updated On: October 1st, 2019] [Originally Added On: October 1st, 2019]
- Energy Blockchain Applications Expected to Experience a 67% CAGR - Transmission & Distribution World [Last Updated On: October 24th, 2019] [Originally Added On: October 24th, 2019]
- Blockchain Technology is Disrupting the Startup Ecosystem - Times of India [Last Updated On: October 24th, 2019] [Originally Added On: October 24th, 2019]
- Is blockchain the answer for sustainability in the cocoa sector? - ConfectioneryNews.com [Last Updated On: October 24th, 2019] [Originally Added On: October 24th, 2019]
- Blockchain voting is vulnerable to hackers, software glitches and bad ID photos among other problems - The Conversation US [Last Updated On: October 24th, 2019] [Originally Added On: October 24th, 2019]
- Blockchain is not the only solution for better and faster payments - Euromoney magazine [Last Updated On: October 24th, 2019] [Originally Added On: October 24th, 2019]
- Can blockchain restore trust to the fund management and audit industries? - Accountancy Age [Last Updated On: October 24th, 2019] [Originally Added On: October 24th, 2019]
- Smart contracts and blockchain will provide needed trust, says Princeton professor - TechRepublic [Last Updated On: October 24th, 2019] [Originally Added On: October 24th, 2019]
- Gartner IT Symposium/Xpo 2019: Blockchain strategy must evolve at the same pace as technology - TechRepublic [Last Updated On: October 24th, 2019] [Originally Added On: October 24th, 2019]
- Binance CEO: Putin Is the Most Influential Person in Blockchain - Cointelegraph [Last Updated On: October 24th, 2019] [Originally Added On: October 24th, 2019]