How Blockchain Can Revolutionise the Logistics Industry
Blockchain and blockchain technology. How can this be used to revolutionise logistics and making it better for your logistics, courier service, and other services that are included with logistics?
Before we can answer that, you need to know what is blockchain first, then you can get to know more about the different ways on how blockchain technology can revolutionise logistics and making it better and safer. These are the things that you need to know about it.
Before you can know how blockchain works and how you can use it to make your logistics better and more trustworthy, you will need to know and understand what blockchain is. Blockchain is a data basis where all data of transactions being hold is stored in. Making sure that every one that is connected to the company, including sellers and buyers, can access the blockchain.
These are basically a record of all transactions that are being done within a company, payments that were done, tracking numbers of goods being sold, etc. There are many benefits to making use of a blockchain.
Total visibility to everyone working with the logistics
This is the first way in how blockchain can revolutionise logistics. It can provide total visibility to everyone working with the logistics. Everyone that has something to do with the business. It can be the buyers, sellers, or couriers that are sending the packages.
With 100% transparency, you can make sure that everything that is getting done with the logistics is visible. To make sure that everyone has access to these files and that no one can hide something. The use of blockchain creates an environment of elevated honesty and integrity.
Safeguards against scams and thievery
When it comes to logistics, thievery and other fraudulent behaviour are a long-standing problem. This is because of the chain from the fabric, to the seller, the courier, and then to the buyer. There is room for crime and thievery to occur.
However, when it comes to the blockchain where everyone has access to the logistic documents online, there isn’t any room for fraud anymore. This protects users from crime and ensures that there are only legal transactions. Because fraudulent dealings and theft aren’t an option anymore, it makes people far more trustworthy when buying products online. To know that the product that they have purchased is going to be delivered, without any problems. They can follow the transaction online until it reaches its destination.
Offer smart agreements and payment options
This is something really great about the blockchain that is going to change how we are doing business forever. Signing a agreement with someone that is living in another city or even country is hard and frustrating. It even might result in the agreement never get signed. This is what is making blockchain so great. It is offering smart agreements online, where everyone can access the agreement, sign it, and have a record of it. It can also be downloaded for having your own copy.
The other great thing is that the blockchain is offering different payment options for the buyer to purchase his or her product or service. Meaning that no problems with payments that aren’t going through or that are getting lost anymore. Making transactions and logistics so much easier.
Blockchain can really revolutionise the logistics of all businesses. Making it better, safer, and faster to do transactions between buyer and seller, and even between two different countries. It is ensuring that there are less fraud and theft between the buyer and seller. And, signing a agreement is no so much easier and faster. This is really something that can be considered when you as a business owner is making use of blockchain.
For over a 100 years, BCR Australia has continued to assist businesses of all shapes and sizes secure an optimal logistics solution through the use of 3PL warehousing and sensible transportation methods, including air freight and sea freight services to and from all major ports of Australia, including Brisbane, Sydney, Melbourne, Adelaide and Fremantle (Perth).
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ABOUT THE AUTHOR
Nancy Whitman is a contributor to leading Australian based freight forwarding and third party logistics company, BCR Australia.