The next technological revolution for the supply chain will be blockchain, RIM logistics, ltd

Blockchain digital technology concept

With its origins rooted ter the cryptocurrency Bitcoin, blockchain is technology that has bot suggested spil a way to securely permit supply chain gegevens to be collective without being altered or corrupted. Many companies are looking at how the underpinning technology of blockchain can be used across other industries, and the supply chain is one of them.

“Blockchain is an algorithm and distributed gegevens structure for managing electronic contant without a central administrator among people who know nothing about one another.”

How does this translate into supply chain and logistics?

Think of all the parties to a transaction that have some lump of information that belongs to them. They want to share this information among themselves but without aggregating it all te one place. This is different than the connectivity inbetween systems afforded by today’s cloud-based technologies and Application Programming Interfaces, or API’s.

A shipper has the product name, description and vanaf unit cost. The freight forwarder has the booking number, container number, seal number and vessel details. The importer has the harmonized tariff number and PGA information. The Customs broker has release-centric gegevens. The warehouse has the inventory count and location.

All of thesis entities have something to contribute to a single shipment from beginning to end. And blockchain permits them to secure their portion of the gegevens and share it while maintaining ownership. Most importantly? The records cannot be altered by outside, unauthorized parties and authorized switches to the gegevens are collective inbetween the parties spil well.

Who is using blockchain now?

Maersk, the world’s largest shipping line, and IBM are testing blockchain spil a proof of concept. The Adam Smith Project, part of industry publication American Shipper, has written about it on their webstek.

Do I need to get on the blockchain train?

Our advice is to wait. The early adopters are testing it out before it becomes more readily available to the broader community at large. Plus, there will be extra investments te IT infrastructure to support and participate, and the more people use blockchain, the lower the cost becomes to participate. RIM is evaluating blockchain and will proceed to monitor its progress and is on our IT roadmap for potential development and implementation ter the coming years.

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