As the blockchain revolutionize many things so logistics are one of them. There are around 140 Million $ payment made daily bases in logistics, as this is a huge amount so this sector needs more and more advancement in the system. Logistics is rapidly growing and increasingly more in terms of financial and infrastructure.
As the turn around is so big so we need a proper system to make things so much batter
Why did Technology need in Blockchain?
Document Sharing Is Terrible:
In the current situation, if we ship anything from Dubai to the USA then there are 100 ledgers involved in the whole process that makes it more difficult to understand every party where this container came from and where it has gone.
On every checkpoint, the person needs to check the paper document of this container and then move to the next step.
How BlockChain Solve this Problem:
Blockchain is something that gives a quick solution to this problem. As the blockchain is more secure and pair to pair so it is easy for everyone to make it online leather and share with everyone they want.
obviously, it cut down the cost of the paper and makes document sharing more and more secure. Blockchain always helps us to make the data more secure that’s why it repeatedly growing due to secure communication.
How Tracking is Improved by adopting Blockchain in logistics:
It is one of the most important factors in logistics. Every customer needs visibility of shipment and exact time frame about shipment here most of the company fails to give the location due to long distance.
Here blockchain helps us in tracking due to P2P data transfer we easily share the location and the best thing is that it is secure. So due to this factor, we can easily adapt logistics and use in tracking.
No matter we have air freight or sea freight blockchain equally helps in both. As compared to the sea we have great visibility in the air.
What about Authenticity?
This is one of the major questions that come in your mind if you talk about tracking, as due to peer to peer technology authenticity of the shipment is 99% accurate and this is one of the major factors that help to track the shipment accurately.
Exchange of Money:
Yes! you write the truth, it is very easy to exchange money using Bitcoin. Most of the company use banks and every bank has different kinds of charges, documentation that reduced your profit and makes the shipping process more expensive. So here blockchain technology helps us we will use bitcoin for that or we can also use blockchain technology to send money from one end to other ends.
Is that secure?
Yes! it’s 1000% secure there are several discussions when bitcoin exists, but it is now well explained how secure is blockchain technology due to peer to peer transfer, this technology is more and more secure. That will help you to send money instantly without any bank and its instant.
As technology improves we have to switch the old process to new technology and blockchain is a good option for that. There is a number of reasons that we need to select blockchain, it is more secure and easy to communicate with each other.
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