Overview
The logistics industry is one of the primary sectors to benefit from blockchain technology. The technology helps reduce repetitive paperwork while enabling trust. It also increases efficiency by allowing automation through smart contracts.
INCREASED SECURITY
IMPROVED CONSENSUS
HIGHLY ADAPTABLE
NON DESTRUCTIBLE
Eliminating Paperwork
Blockchain technology allows for a mechanism where multiple stakeholders can have direct access to information, thereby eliminating paperwork at different check points.
Improved Traceability
Traceability from source to final destination becomes easy and accurate. Blockchain technology allows instant identification of problems associated with spoilt goods, missing quantity or even mismatches during an audit.
AI and Automation
Smart contracts enable a set of rules that allow automated purchases when inventory levels are low and other triggers based on a set of conditions.