Logistics industry: the next step in the global economic block


nnnIn the field of supply chain management, logistics chain tracking and other areas of data management requirements are high, so in the data management model has a special advantage of the block chain technology and they can be said to be perfect match. And the current Maersk, Wal-Mart and other global giants have been exploring this project. I believe that through the success of a project, and ultimately will achieve the logistics industry and the real integration of block chain technology.n
nnTranslation: Annie_Xun
nThe industry that has been conquered by the inevitable chain of chains has increased. Currently in the field of stable penetration of the logistics, and it seems very fit with the technology. This year we see the market increasingly interested in the way in which the chain chain changes logistics and transportation industries.n
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nLogistics and block chain: perfect matchn
nBitcoin underlying block chain technology is actually safe and efficient multi-party information exchange. It creates a non-tampering transaction digital book that is maintained by a distributed computer network.n
nThe technology’s shared potential, non-tampering architecture, and high degree of transparency make it the best tool for changing supply chain management.n
nLogistics is defined as a planning framework for materials, services and information flows. Logistics of physical goods usually contains information flow, transportation, warehousing and security integration.n
nThe logistics chain usually spans multiple steps and hundreds of locations. It is understandable that this makes event tracking more difficult throughout the supply chain, that verification of verification of transport goods is more difficult and challenges the speed of response to unexpected situations.n
nMoreover, due to lack of transparency, it is difficult to investigate illegal activities in the supply chain.n
nBlock chains have the potential to solve these problems. As a transparent public book, consumers and auditors can provide a simple and effective tracking tool, until the product reaches the final destination block chain is an important side, only the logistics chain all participants can enter the same network, can achieve all of its potential.n
nThe block chain is not dealing with industry-specific issues, but it brings a whole set of benefits. Not only to eliminate unnecessary intermediaries, but also greatly reduce the workload. Provide fantastic block chain security, reduce error rates, prevent illegal labels for illegal goods, and other fraudulent actions.n
nThis new model can bring a huge cost advantage to the industry.n
nHas now launched a number of block chain and logistics industry integration project.n
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nReal world deployment: happening!n
nIn October 2016, the first Commonwealth Bank of Australia and Wells Fargo, which were members of the R3 alliance, carried out the first global trade based on block chains and smart contracts.n
nThe trade will be 35,000 US dollars from the transport of cotton from Texas to Qingdao, although the transaction was successful, but the project did not get rapid advance. Banks are clearly confident about the technology, but are not ready to use the block chain completely. Wells Fargo trading services manager Chris Lewis said, “has not yet resolved the regulatory, legal and other issues.”n
nShortly thereafter, a similar project was carried out at the port of Rotterdam, one of Europe’s largest seaports, with support from a large number of institutions and universities in the Netherlands for a two-year test.n
nEnterprises are also testing the water. Danish maritime giant Maersk has been studying the way the work process is digital, hoping to manage the company’s goods more efficiently and transparently.n
nMaersk also worked with IBM to study how to use the Hyperledger fabric framework to achieve the company’s unique block chain deployment, tracking millions of container transport each year, looking for the best way to work with customs.n
nWal-Mart, the largest US retailer, also uses IBM’s Hyperledger Fabric to conduct a distributed book technology pilot to track China’s pork sources and transportation and warehousing in the US. In addition, Wal-Mart has also recently obtained the use of unmanned aircraft delivery chain block application patent.n
nA large number of companies (Amazon, Alibaba, Kestrel, etc.) have begun to focus on using the block chain to meet their logistics needs. However, open financing of the start-up companies did not appear in this area. There are only two items, one is Blockfreight and the other is A2B.n
nBlockfreight is an Australian company that handles container transport and related activities. Blockfreight is characterized by an intelligent contract built on the chain of the APF block and a tradable BFT: XCP tokens, which will be used for all transactions in the Blockfreight network. So that the platform can track all the transport data and prevent fraud.n
nBlockfreight’s cap is $ 1.9 million and the token is sold in several rounds. The project has been developed for one year and is still in the pilot development phase. Is currently designing systems and researching the underlying technology.n
nAnother start-up company is Eastern Europe’s A2B, mainly involved in the logistics industry in Ukraine and Belarus. The A2B service allows direct communication between shippers and freight forwarders, handling most of the workload and reducing costs.n
nThe new logistics model will integrate existing block-chain technology and fully operational A2B Direct platform. The founders believe that this can make international transport cheaper and easier for enterprises and customers to use both encrypted currency and currency.n
nThe platform ICO began on July 12 and lasted for a month. A2B financing target is 500,000 to 3 million euros. Let the company to Western Europe and the Americas market expansion.n
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nClear forwardn
nAs a way to achieve transparent and smooth global commodity circulation, the transportation and logistics industry is a global trading system of vascular systems. As with any other traditional industry, they are a lot of problems, and the chain-chain change model is one way to solve these problems.n
nThe introduction of block chains and smart contracts into the logistics industry can provide real-time cargo tracking, reduce workload and increase transparency. Block chains will be cheaper and safer, more capacity for infrastructure that can be easily integrated with other industries.n
nAt present, the application of block chains in the logistics industry may be limited to risks and criticisms, but the success of the project will be closer to the reality, we can speculate that after a few years the chain will be the same as wildfire throughout the industry.n

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