How Will Blockchain Technology Revolutionize Logistics?

How Will Blockchain Technology Revolutionize Logistics?

If you haven’t noticed, blockchain technology is taking the world by storm, catapulting technology into unchartered, new territory, allowing for greater transactional accuracy, and more importantly, transparency.


The Motley Fool sums up the blockchain,



“It’s a brand-new way of transmitting money without the need for traditional banking networks, as well as a means to store data in a transparent and unalterable way.”



Above all, blockchain is a foundational technology allowing businesses to build new applications on top of it, leading to a myriad of technological advancements across a broad range of industries, including supply chain and logistics


According to Freightwaves,



“In May 2017, Deloitte tweeted that 10% of global GDP would be built on top of blockchain applications. This huge and ambitious claim was made because of the transformative nature of the technology and the effect it will have on society. For logistics and transportation, it will have a bigger impact promising to shake up the $8T industry.”


Greater transparency means less risk 


Since the early days of human civilization, where trade was mostly local and rarely international, the supply chain has become increasingly complex in nature. As humans have evolved, with our needs becoming greater, we have relied on businesses to provide us with a vast array of supplies from all corners of the globe.


See: The Advantages of a More Secure and Safer Blockchain


With these logistical developments, also comes the risk of threats and illegal operations, impacting businesses and consumers alik ..

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