Why do we need Blockchain in Logistics?
With many shipping companies getting hacked, Maersk being the largest of them all to get their systems compromised and causing total disruption, why wouldn't logsitics need to be part of a blockchain? This would alleviate problems like this happening over and over again.
With a world that is becoming more connected on a daily basis, blockchain technology will inherently develop into a symbiotic relationship with the Internet of Things and today’s advanced logistics and supply chain management systems.
TRANSPARENCY FOR CUSTOMERS. For most people, little is known about the products they are buying and where it's coming from. an almost incomprehensible network of retailers, distributors, transporters, storage facilities and suppliers stand between us and the products we use.
With blockchain technology, customers will be able to see every part of the journey their product took before arriving in their hands. The network behind the store shelf will no longer be hidden, allowing the customer to make better informed decisions.
TRANSPARENCY FOR AUDITORS. Because the history of transactions is locked into each block, auditors will have an easier time understanding where items and resources have gone. This, as Adam Robinson of Cersasis puts it, “help[s] supply chain leadership, such as C-level executives understand how to make the supply chain more efficient and productive.”
GREATER SECURITY. The technology will enable supply chain companies to identify attempted fraud more easily.
For example, an employee that goes into the system to change past events will alter the coding of the event. However, the altered coding appears so differently that it would be practically impossible to not notice the change. This will allow companies to recognize the fraud and who initiated the change almost immediately.
-cite credit JOC
