Why you Must Consider
Blockchain for your Transport &
Logistics Business
24 Jun 2019
www.gatewaydigital. fi
New emerging technologies are changing how industries and organizations function, change and
evolve. In this digital age, it is difficult to find an area of business where there is no potential for
technology to improve what we do. Right from your car system that gives you the weather updates
every morning, to the text message you receive from your bank regarding your recent financial
transactions, everything is aided by innovative digital technologies.
Just like all industries are catching pace with digital transformation, the transport and logistics
industry is getting advanced too. From a single owner operator to large freight and trucking
companies, adopting digital technology solutions has become inevitable for growth and survival in
the disrupted market.
Blockchain is one such modern technology that has been doing wonders ever since its
implementation.
In this blog, we will take you through the various ways in which blockchain is changing the transport
and logistics industry. But before that, for those of you who are new to blockchain, here is a quick
definition:
Blockchain is a form of distributed ledger technology, where transaction data is shared by the nodes
(computers) on a network, to which transactions are recorded and validated.
Used predominantly in FinTech and banking, blockchain technology solutions have significant
applications in logistics, supply chain, healthcare, property and trading, energy, and many more
sectors. Here are a few use cases of blockchain in real life:
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Porsche and Toyota use blockchain and distributed ledger technology to develop new
mobility ecosystem that accelerates the development of autonomous driving technology.
Why you Must Consider Blockchain for your Transport & Logistics
Business
WWW.GATEWAYDIGITAL.FI
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A leading healthcare company combines blockchain with big data to help doctors and
patients securely transfer sensitive data.
IBM launched its Blockchain-as-a-Service (BaaS) solution in 2017 for businesses across
several industries.
Shipping giant DHL uses blockchain-backed logistics to maintain the integrity of transactions
and a digital ledger of shipments.
Blockchain for Transport and Logistics- Enabling Efficient and Cost-saving Business Operations
The transport and logistics industry undergos challenges such as inefficient data and document
management, money laundering and fraud, complex regulatory compliance, limited traceability,
complex reverse logistics processes, non-transparency in booking and pricing, and more. Blockchain
can help address these challenges. The primary usage of blockchain in logistics and transport is in
the areas of automation, security and providing visibility across the supply chain.
Typically, a shipment must pass through several organizations and communication channels before
reaching its end destination. Any gap during its transition can cause the container to be held up or
lost. Blockchain helps in solving this issue by securely recording each move and enabling real-time
tracking of shipments.
Here are a few more potential uses of blockchain to improve the functions of your transport and
logistics industry:
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Visibility across the entire value chain
Detailed insights and instantaneous end-to-end tracking of your shipments
Notifications about any handouts or the condition of your goods at any time
Quality control of goods by monitoring and maintaining them at the right temperature
whenever required
Smart contracts and automated payment transactions to speed up payments for your
shipments
Easy and seamless capacity monitoring and planning
Traceability in reverse logistics
Quick, faultless, and efficient invoice and payment management
Easy coordination of documents on a digital ledger, eliminating paperwork and manual
processes
Flawless delivery with effective order tracking and authentication
What’s the future?
The adoption of blockchain in supply chain and logistics has been slower than expected, and its
implementation is no small task. But it is going to be an absolute game-changer very soon! Adopting
blockchain will help you to accommodate the ever-evolving expectations and needs of your
customers and streamline your business operations.
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Why you Must Consider Blockchain for your Transport & Logistics
Business
WWW.GATEWAYDIGITAL.FI
To start with, educate your employees about blockchain, develop ideas and specific use cases, set
an adoption strategy, conduct proof-of-concept tests, build capabilities and implement blockchain
solutions.
Need help with implementing blockchain for your business? With an expert team of technology
consultants and Blockchain developers, we at Gateway Digital can help you resolve your business
challenges and achieve secured business processes.
To know more about our capabilities and offerings in Blockchain, visit us at www.gatewaydigital.fi
or drop a message to hello@gatewaydigital.fi.
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Why you Must Consider Blockchain for your Transport & Logistics
Business
WWW.GATEWAYDIGITAL.FI
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Phone : +358 452 489 313
E-mail : hello@gatewaydigital.fi
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Why you Must Consider Blockchain for your Transport & Logistics
Business
WWW.GATEWAYDIGITAL.FI