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in Business - 12 May, 2019
by Curtis - no comments
Blockchain Technology For Real Time Processing Of Logistics Information

Governments are calling on manufacturers and technical logistics providers to work closely together and guard their chain of custody as parts and products move from border to border. They have to track the place of origin and the record of ownership of goods so that they can identify importation of illegal drugs and counterfeit medical devices and pharmaceutical products.

Blockchain technology will create a more efficient, more secure and more open platform for ecommerce. The proprietary platform may not be the global solution for whole industries that are now being challenged by a range of technical and regulatory hurdles. Instead, the platform must be based on an open source software and industry standards needed to ensure process transparency and so that no entity will profit more from technology than the others.

According to FedEx CIO Rob Carter, the logistics industry is in a state where it is moving out from dominant design.  The logistics industry is not an organization that is pushing for more regulatory control; however, there are many instances when regulatory mandates are helpful. If Blockchain standards are mandated customs and border agents will be able to create a chain of custody to better track and identify goods.

Every international package contains an incredible amount of information in digital or paper form. There is paperwork and certificates of origin. There are commodities that require certain licenses. Since the world is moving towards the digital age, blockchain technology will be able to piece everything together.

Information that is provided in packages is very important; almost as important as the packages themselves. Traditionally, the shipping industry’s information system uses legal documents printed on paper while electronic data is transmitted through electronic data interchange (EDI). This technology does not provide real time information so that shipping participants have to share documents through emails, faxes and couriers.

Providers of technical logistics operate from continent to continent to deliver comprehensive pickup, transport and installation service at the final destination. Technical courier services beyond simple delivery are provided for all types of products, regardless of size, shape and complexity. Supply chain solutions are offered across sectors for all types of high tech products.