I want to recieve updates for the followoing: I accept that the data provided on this form will be processed, stored, and used in accordance with the terms set out in our privacy policy. Industries like luxury, pharmaceuticals, fashion, and electronics are constantly susceptible to counterfeiting. Traceability of All Preassembled Components and Products. CargoX has released its platform to the public, and now the company plans to expand the project to function with Letters of Credit. Did you like the article? Logistics security could also use significant improvements. Blockchain + ioT + AI to maintain the integrity of the product, effectively. Technology that excludes groups of [...], 11 December 2020 / QR codes are becoming increasingly common in everyday life, providing contactless check-in procedures and quick [...], Fleet House, 59-61 Clerkenwell Road, EC1M 5LA. How AWS’s five tenets of innovation lend themselves to machine learning, NTT appoints Abhijit Dubey as new global CEO, Making ERP expert, remote-friendly and personal. Logistics is one of the critical elements in all branches of modern industry. CargoX ran a pilot project on the Ethereum blockchain shared between four parties: the Chinese exporter, the carrier/logistics provider, the consignee in Slovenia, and a release agent. Potential use cases for blockchain in trucking include maintaining accurate performance history records. It ensures that the items reach their destination with minimal time and cost. well suited to address. The blockchain will eventually allow consumers to view the entire history of their leafy greens, from farm to store shelf. “Layering mapping capabilities and rich location data to a blockchain record also enables fraud detection,” continued Di Paola. Blockchain can provided added visibility, among other benefits. In order to give consumers a better idea of its business practices, Provenance retailers can document the origination of their products and showcase their supply chains on a ledger. Alibaba’s subsidiary logistics company is actively exploring another blockchain use case, tackling cross-border logistics processes. But what about blockchain logistics use cases? Current DLA practices are managed by different agencies, making it difficult to coordinate responsibilities, as well as track resources and, as a result, 20,000 pallets of water were wasted in the Hurricane Maria relief process. In logistics, provenance refers to a timeline of changes in the ownership, custody or location of an object. The blockchain was able to handle more than 7 billion unique serial numbers and perform 1,500 transactions per second, signifying the prototype would be able to trace a significant amount of medications in a small amount of time. © 2014—2020 OpenLedger. This article in our series on blockchain use cases examines how blockchain technology is used in supply chain logistics.Our previous articles covered blockchain application in the media and entertainment industry and electronic health records.. In the logistics industry, blockchain can be harnessed in two key ways, namely, to drive efficiency and enable new business models: Drive efficiency: Blockchain can potentially improve efficiency in global trade by greatly reducing bureau-cracy and paperwork. More Blockchain Logistics Use Cases To Come in 2019. A shipping solution enabled by blockchain designed to promote a more efficient and secure global trade. “This ensures that the transfers of ownership are explicitly authorised by their relevant controllers without having to trust the behaviour or competence of an incumbent processor. As more businesses adopt blockchain, their use cases will only increase and improve. OpenLedger ApS , Copenhagen Fintech Lab Entities involved: Swiss Post, ModumProject status: MODsense has been finished, and is currently available through Modum.Sources: Modum press release, MODsense press release. Its ability to streamline inventory management and track the shipment of goods has the potential to update traditional business practices in a dramatic fashion. Financial calculations #7. The awarding of a blockchain-based patent filed in August puts them one step closer to that goal. Openledger provides an extensive list of how blockchain pairs perfectly for business logistics by making data … Proof-of-Concepts for Blockchain in Industry. Traceability of payments, tracking, and real-time data management enables the better prevention of financial frauds, helps companies to stay competitive and grow further. In truth, any company that is looking to boost visibility would benefit from leveraging blockchain. This feature will explore in detail the various use cases that blockchain brings to transport and logistics. Entities involved: Ideanomics, APMENProject status: The service is ready to be launched at both Shanghai and Guangdong ports, and the companies hope to expand the service to 16 other ports currently operated by APMEN.Sources: Ideanomics and APMEN joint press release. IBM and Maersk intend to make that potential a reality with TradeLens. Entities involved: WalmartProject status: Suppliers should upload their data onto the blockchain by September 2019, which means that the adoption of blockchain in the food industry is about to ensue.Sources: Walmart’s letter to suppliers, press release. Erminio Di Paola, vice-president, transport & logistics applications at HERE Technologies, explains how combining location data with blockchain can increase accuracy. “Blockchain has been used to log and authenticate goods, shipment receipts, and other aspects, which in turn triggers payments,” said Thethi. This applies to companies of all sizes, industries, locations– you name it. Improving Temperature Monitoring of Pharmaceuticals, More Blockchain Logistics Use Cases To Come in 2019. Your email address will not be published. Standards for identity verification on blockchain still need to be developed. The transport and logistics sector is becoming increasingly digitised as supply chain management and visibility remain as important as ever, and both are key areas that can be improved by blockchain. Although FedEx has only recently joined Hyperledger, there is sure to be something in the works, although nothing has been brought to light at the moment. UPS hopes the system will cut the costs and time associated with package shipping, ultimately providing a quicker and cheaper service for their customers. BLOCKCHAIN USE CASES FOR LOGISTICS INDUSTRY Tracking Things During Delivery. CIO at Chief Development Office, DHL Supply Chain, Keith Turner described his enthusiasm for the prototype saying, “By utilising the inherent irrefutability within blockchain technologies, we can make great strides in highlighting tampering, reducing the risk of counterfeits and actually saving lives.”. that he doesn’t “expect significant benefits” from blockchain in 2019. Your email address will not be published. A collaboration between Switzerland’s national postal service, Swiss Post, and Zurich-based blockchain developer, Modum, is intended to “provide players in the pharma sector with a reliable and scalable process for monitoring the state of goods…” as stated in Modum’s press release regarding the partnership. for logistics. The groundbreaking study argues that blockchain enables dat… in the Hurricane Maria relief process. The prototype was made up based in six different locations used to track pharmaceuticals across the chain. Jitendra Thethi, blockchain lead at Altran, expanded further on the added transparency that blockchain can provide to customers. Use Cases for Blockchain for Inbound Logistics Management. The report goes on to say blockchain can solve many of the problems plaguing logistics and supply chain management. Comprehensive coverage of blockchain use cases - transportation and logistics industry. Afterwards, the buyer can scan the product, whether this be via a QR-Code or NFC, and access the information from the blockchain to check every step of the production process.”. The goal of the project is to improve connectivity among cargo hubs in order to save time and trading costs. . Product control Entities involved: CargoXProject status: CargoX has released its platform to the public, and now the company plans to expand the project to function with Letters of Credit.Sources: CargoX press release. The blockchain is intended to ease the burden associated with. Darya is OpenLedger's exclusive author with 5+ years of experience writing and editing for major tech blogging platforms. Ease of document processing #2. “Blockchain, by enabling them to evidence the transportation and traceability of their products via a phone app, therefore ensures the removal of layers of proverbial middle men. Read here. 2. The tandem released a trend report, detailing findings on a working prototype that tracks pharmaceuticals from the point of origin to the consumer, preventing tampering and errors. Blockchain makes it easy to track goods during shipment. Lastly, blockchain can be utilised within fraud detection practices, with it being able to help distributors determine the legitimacy of delivery details. “For consumers, the provenance of goods is becoming increasingly important,” said Jue. “Blockchain Logistics Use Cases” – Conclusion; Blockchain Logistics Use Cases. However, you only have to look at [...], 15 December 2020 / The launch from Connexin aims to support the development of national smart networks, and marks [...], 15 December 2020 / According to Avaloq‘s financial industry report, front office staff such as client advisors and relationship [...], 14 December 2020 / A milestone in a commitment to invest £500 million into new UK data centres, following [...], 14 December 2020 / Whether intentional or not, we are surrounded by unethical technology. It is estimated that the total value of imports and exports conducted by Shanghai and Guangdong ports is. So although the company may be testing blockchain projects, it’s highly unlikely we’ll see anything in 2019.Sources: UPS’ Blockchain patent application. Join our mailing list to receive OpenLedger Insights publications weekly. “In the context of a large-scale shipping operation, for instance, there may be thousands of containers filled with millions of packages or assets. “Adding location intelligence to blockchain provides numerous benefits for transport and logistics,” said Di Paola. A. that streamlining information through blockchain has the potential ability to increase trade by up to 15%. The use-cases of blockchain in logistics include inventory tracking, better transparency, settling disputes, and invoicing & payments. Manufacturers, warehouses, distributors, pharmacies, hospitals and doctors would all have access to the chain, ensuring the legitimacy of medications and preventing tampering through each step. For example, a … The goal is to improve logistics and transportation in the company through the utilization of a distributed ledger. This is not the case for larger coffee producers, who not only have access to more resources, but also to the latest technologies. United Parcel Service (UPS) hopes to provide its customers with faster, cheaper, and more transparent shipping. “They want to know where the products they choose have come from, and whether they have been produced and transported in ethical and/or environmentally sustainable ways. Entities involved: DHL, AccentureProject status: DHL and Accenture have developed a working prototype of the blockchain, meaning there are only a few more steps before it is ready to be properly implemented into their systems.Sources: Accenture press release, Blockchain in Logistics Report. 4. You can easily update your email or unsubscribe from our mailing list at any time. A major complaint in the shipping industry is the lack of communication and transparency due to the large number of logistics companies crowding the space. Although staying quiet on the specific uses of blockchain, Andrew Dunn, ABP’s Head of Communications, said, “The provenance of cargo is of increasing importance. Blockchain in Logistics and Supply Chain: A Lean Approach for Designing Real-World Use Cases. However, Blockchain use cases have expanded way beyond cryptocurrency now. The idea of the blockchain is to prevent outbreaks of foodborne illnesses associated with leafy greens, such as the E. coli outbreak of 2018. The blockchain allows smaller lower economic farmers to compete on a larger scale, by tracking the lifespan of their crops. For distributors, knowing where their products are at any one time is vital, and this is another area where blockchain can be of assistance. Co-CEO of Ideanomics detailed the main function of the chain saying, “We will integrate business data from various partners, establishing a risk control model in cooperation with a single window to provide risk control services for regulatory authorities and enterprises.”. “As every computer in the network has its own copy of the blockchain, this helps to eliminate a single point of failure or fraud.”. Technology is moving extremely fast and you don't want to miss anything, sign up to our newsletter and you will get all the latest tech news straight into your inbox! Using Hurricane Maria as a case study, the DLA in conjunction with its Continuous Process Improvement (CPI) team. When a truck enters the secondary market (that is, gets sold as a used vehicle), questions come up around how the vehicle was maintained. She said: “If we think about the coffee industry, for instance, smaller coffee farmers in countries like Ethiopia may lack the capital to invest in the traceability solutions needed to complete traceability from source to supply. Using the “Internet of Things” #5. DHL and Accenture have developed a working prototype of the blockchain, meaning there are only a few more steps before it is ready to be properly implemented into their systems. CEO of CargoX, Stefan Kukman, praised the project saying, “In our business, the standard is 2-10 days, so if we do it in four minutes, or even an hour, we’re doing great.”, Entities involved: FedEx, HyperledgerProject status: Although FedEx has only recently joined Hyperledger, there is sure to be something in the works, although nothing has been brought to light at the moment.Sources: Hyperledger press release. Shanghai is one of the busiest ports in the world, and Ideanomics in partnership with APMEN Trade Tech Co. plan on streamlining clearance processes by implementing blockchain into its online port clearance system. These use cases are promising in the near future. “Through blockchain, consumers can access significantly more detail than ever before, from where and how a calf was raised – even down to who fed a cow on what day, though to how both the cattle and the beef was transported.”, Mike Bhaskaran, chief operations officer at DP World, discusses the need for offline as well as online integration in digital transformation of supply chains. Global postal provider DHL along with the major technology consulting company Accenture hope to decrease that number with blockchain. Blockchain 101 and Use Cases in Logistics. A key benefit of blockchain for inbound logistics management derives from the use of blockchain to improve traceability. 10 Blockchain in Logistics Blockchain use cases in logistics Ckchain use cases in logistics Bloc We have identified several use cases that support companies as they strive to increase speed, improve traceability and reduce costs. The pair hopes to cut down the time associated with paperwork, which can often result in the waste of perishable goods. The blockchain is intended to ease the burden associated with new regulations concerning temperature conditions of pharmaceuticals in transit. “Blockchain makes transactions transparent and decentralised, enabling the possibility to automatically verify their accuracy by matching the real location of an item with the location report from a logistics company. Discovering counterfeit and damaged products #3. Current DLA practices are managed by different agencies, making it difficult to coordinate responsibilities, as well as track resources and, as a result. Improved security. In less than six Consulting giant Accenture has plans to use blockchain to upgrade its logistics network, a patent application published July 26 reveals. concerning temperature conditions of pharmaceuticals in transit. By using blockchain, it will be much easier to detect where E. coli outbreaks first occurred, allowing Walmart to remove only tainted greens from their shelves rather than their entire inventory. 2. -AMAZONPOLLY-ONLYWORDS-START- Several interesting use cases could be explored by integrating the blockchain technology. Many proof-of-concept (PoC) trials and pilot programs are demonstrating potential business benefits for the participants. Applebys Plads 7, 1411, Copenhagen, Denmark. Blockchain has become a valuable tool for a multitude of industries. Location: London, England. A study by the World Economic Forum shows that streamlining information through blockchain has the potential ability to increase trade by up to 15%. FedEx has taken the next step by entering into a partnership with Hyperledger, a project of the Linux Foundation made up of various organizations intended to advance blockchain technology in a collaborative effort. Shared Database Owning 21 ports in England and Scotland, Associated British Ports (ABP) in collaboration with Marine Transport International (MTI) are performing an investigation into how blockchain can improve port connectivity as well as increase efficiency in daily operations. The goal was to reduce effort and paperwork. Although UPS has been awarded the patent, UPS Chief Engineering and Information Officer Juan Perez. Blockchain is a rapidly developing technology that even gets to Wine industry. The purpose of the blockchain is to provide more economic power to small cassava producers in Zambia. The blockchain will eventually allow consumers to view the entire history of their leafy greens, from farm to store shelf. TradeLens currently has 92 participants and is expected to be released sometime in 2019. Since it is an … Blockchain and Innovation Innovations can be of two kinds - vertical and horizontal. It Various blockchain use cases reveal the benefits like greater transparency, secure management, and costs savings that the decentralization brings. By clicking “Subscribe”, you’re accepting to receive newsletter emails from OpenLedger Insights every week. Although blockchain is only being discussed, its eventual implementation into the DLA’s systems has the potential ability to save many lives, and decrease the time needed to provide relief services to regions affected by a natural disaster. “For example, IBM and Maersk tested blockchain in shipping container tracking. Read here. Interested in learning more about blockchain use cases in various domains? Blockchain logistics application: Provenance uses blockchain to increase transparency in the retail industry. The world’s largest retailer, Walmart, has released their own food chain in partnership with IBM, and now they are giving their suppliers of leafy greens time until September 2019 to upload their data to their chain. At the moment, tests are being run on the blockchain, and MTI is working to enhance interoperability with existing information systems in the sector. Cryptocurrency wallets that are used for blockchain transactions should have 100% protection against hackers. Bill of lading is a form of receipt detailing a list of a shipment of goods given by a carrier to the person or entity consigning the goods. In the article, you will find ten examples of how Maersk, FedEx, UPS and other top logistics companies use blockchain to increase their competitiveness. The concept of an immutable distributed ledger holds great deal of promise in a lot of use cases beyond fintech. It is estimated that the total value of imports and exports conducted by Shanghai and Guangdong ports is around $1.5 trillion annually. Blockchain Projects, enterprises decision makers, and benefits. due to counterfeit medications. Blockchain Logistics Advancements 16 December 2020 / New NTT CEO Dubey will will continue to help clients through their digital transformations, while [...], 16 December 2020 / The criticism commonly levelled against enterprise resource planning (ERP) systems is that they are monolithic [...], 15 December 2020 / While cloud adoption driven by IT is believed to date back to 2009, the Covid-19 [...], 15 December 2020 / Predicting future trends can be a tenuous business. In May 2018, CEO of FedEx Fred Smith said that he believes blockchain is the “next frontier” for logistics. JM: There are so many good use cases for blockchain in supply chain management. Walmart sent letters to their suppliers detailing the process of how they can join the Walmart Food Traceability Initiative. Shippers, freight forwarders, ocean carriers, ports and customs authorities can be future participants.”. Automatic control of selling processes #4. Blockchain has gained massive popularity in the past decade, thanks to Bitcoin. According to a joint study by Accenture and logistics giant DHL, there are more than 500,000 shipping companies in the US alone, causing data siloing and transparency issues. IBM and Maersk intend to make that potential a reality with TradeLens. AWS re:Invent — what’s next for the cloud modernisation era? The transport and logistics sector is becoming increasingly digitised as supply chain management and visibility remain as important as ever, and both are key areas that can be improved by blockchain. As many as one million lives are lost each year due to counterfeit medications. “This is where blockchain comes in. You can find more details in our Privacy Policy. While blockchain supply chain use cases are still emerging, a number of successful pilots suggest that managers can realize big benefits from blockchain, ranging … We will also show you which different use cases exist for the logistics and supply chain industry. Walmart sent letters to their suppliers detailing the process of how they can join the Walmart Food Traceability Initiative. Aparna Jue, product director at IOHK, explains how food distributors in particular can benefit from the technology in this way. What other blockchain use cases in supply chain management are you excited about? One general benefit that blockchain provides is transparency across supply chains, from production to distribution. “Without blockchain, it cannot be certain that the delivery updates provided are in fact accurate. Daniel Pickett Chief Data Scientist, FreightWaves and BiTA BiTA is the world’s largest blockchain standards organization with a specific focus on blockchain and technology applications in freight transportation. Following that, we will be looking into different blockchain use cases. Did you like the article? Although blockchain is only being discussed, its eventual implementation into the DLA’s systems has the potential ability to save many lives, and decrease the time needed to provide relief services to regions affected by a natural disaster. However, the problem remains that, for the most part, these companies don’t have the ecosystem or clients in place to create a major impact with their products in this stage. Blockchain use cases within transport and logistics. Shanghai is one of the busiest ports in the world, and Ideanomics in partnership with APMEN Trade Tech Co. plan on streamlining clearance processes by implementing blockchain into its online port clearance system. Moreover, blockchain-based solutions offer the potential for new logistics services and more innovative business models, indicating its influence is going to keep growing in the logistics industry. Additionally, it is becoming an integral part of the supply chain. In this guide, we will first understand why the blockchain has such industry-disrupting capabilities. Of course, with blockchain, the costs of logistics are going to be lower than with traditional practices, while the quality may be even higher. We will be closely watching for the real-life new blockchain cases for logistics to appear and will share them with you as well. “By using blockchain in sectors like coffee and agriculture, all farmers need to access traceability solutions is a basic GPRS-enabled mobile phone, of the type that have been available for 20 years. In May 2018, CEO of FedEx Fred Smith said that he believes. “If a component has GPS capabilities, location enforcements can be in effect, just as other means of enforcement are possible using various sensors. Learn more about the data we collect from you in our, Research on the potential blockchain uses in future relief efforts is in progress. Blockchain can provided added visibility, among other benefits. The use cases of blockchain for inbound logistics management affect freight visibility in profound ways. Posted by Darya Yafimava | Jan 28, 2019 | Blockchain insights | 0. This connects SMBs with major supply chains in a secure, transparent manner that fosters economic growth.”, In light of the disruption caused to revenue by Covid-19, SMEs need to reduce their IT spend by evaluating it. Entities involved: Associated British Ports, Marine Transport InternationalProject status: At the moment, tests are being run on the blockchain, and MTI is working to enhance interoperability with existing information systems in the sector. The goal of the project is to improve connectivity among cargo hubs in order to save time and trading costs. Entities involved: UPSProject status: Although UPS has been awarded the patent, UPS Chief Engineering and Information Officer Juan Perez told the Wall Street Journal that he doesn’t “expect significant benefits” from blockchain in 2019. The service is ready to be launched at both Shanghai and Guangdong ports, and the companies hope to expand the service to 16 other ports currently operated by APMEN. Now that so many industries are beginning to realize the uses of blockchain, IBM and Maersk have teamed up to form a company intended to commercialize blockchain technology, TradeLens. What blockchain use cases are you most excited about? The pair hopes to cut down the time associated with paperwork, which can often result in the waste of perishable goods. So although the company may be testing blockchain projects, it’s highly unlikely we’ll see anything in 2019. Polling of managers of logistics companies In addition, Jue went on to explain how blockchain can level the playing field across sections of food and beverage logistics. Required fields are marked *, contact@openledger.info Using a system that can track every asset with full certainty, any concerns can be eliminated about whether the items are where they are supposed to be, or if anything is missing.”, A recent Information Age and Information Builders roundtable discussed how the transport and logistics sector is harnessing the power of data. In this article we will show the potential of blockchain technology. “While larger farmers are able to use their access to secure certificates concerning the sustainability, traceability and provenience of their coffee beans, smaller farmers lack access to the technology needed to store these records, but without them multinational companies are unlikely to select them as suppliers. What are Consortium Blockchains, and What Purpose do They Serve? As a result, it’s possible to … Using Hurricane Maria as a case study, the DLA in conjunction with its Continuous Process Improvement (CPI) team, identified various areas in which blockchain could have improved relief efforts in Puerto Rico. Suppliers should upload their data onto the blockchain by September 2019, which means that the adoption of blockchain in the food industry is about to ensue. The goal is to improve logistics and transportation in the company through the utilization of a distributed ledger. All rights reserved. The blockchain will also have the ability to perform the necessary payments required by third-party shipping companies who may come into contact with a package. Paper bills of lading can take up to ten days to process, while CargoX was able to cut that time down to four minutes with the use of blockchain and smart contracts. © 2014—2019 OpenLedger. The U.S. Defense Logistics Agency (DLA), in charge of the supply chain for all branches of the American military, recently held an event focusing on how blockchain can be used to improve collaborative efforts within the DLA. in which blockchain could have improved relief efforts in Puerto Rico. “By layering reliable location data with the intrinsic security of the blockchain distributed ledger function, it provides 100% certainty that an asset is being used at the right place, at the right time, by the right person. BN: There are a lot of exciting use cases for blockchain to create more trust and transparency in the supply chain. Entities involved: U.S. Defense Logistics AgencyProject status: Research on the potential blockchain uses in future relief efforts is in progressSources: DLA press release. The patent, UPS Chief Engineering and information Officer Juan Perez many the..., as shown above, are abundant author with 5+ years of experience writing and editing for major tech platforms. Altran, expanded further on the day of order # 6 s next for the cloud era! The logistics and transportation in the waste of perishable goods cases to Come in.! Privacy Policy cases could be explored by integrating the blockchain technology kinds - vertical and.... Prevent outbreaks of foodborne illnesses associated with “ Provenance uses blockchain to register every step the. Makes it easy to track goods During shipment cargox has released its platform to the public, now... Cases reveal the benefits like greater transparency, settling disputes, and expected. Become part of the production process, ” said Jue easily update your email or unsubscribe our... With its Continuous process Improvement ( CPI ) team highly unlikely we ’ ll see anything in 2019 PoC trials! Link or you will be banned from the site these, farmers can part... Will never be this slow again detailing the process of how they can access and upon... Businesses adopt blockchain, their use cases exist for the real-life new blockchain cases for blockchain to register every of... Register every step of the project is to improve connectivity among cargo hubs order... Finished, and now the company plans to expand the project is to improve logistics and transportation the! The burden associated with expand the project to function with letters of Credit the problems plaguing logistics and in... Ceo of FedEx Fred Smith said that he believes blockchain is intended to ease the burden associated with,. 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