We know that blockchain technology could one day transform the transport industry, indeed, blockchain technology promises very big things for logistics. Since the blockchain is such a big idea however, we need to explore exactly which aspects of the blockchain are useful to logistics, because let’s face it, shipping companies don’t really have any use for creating gambling dApps, nor will Maersk benefit from creating their own cryptocurrency. It’s important to remember that the blockchain is more than just Fintech, it’s more than just finance, the blockchain is an automated process and an immutable ledger, one that can make any industry more transparent.
Immutability refers to a constant, something that cannot be changed or corrected, this is vital in shipping and in logistics as it’s the only way to ensure legitimacy. When goods are exported or imported, they are backed by tags, serial numbers and other processes that ensure the products are legit and not fake. By using…
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