WHAT IS BLOCKCHAIN
It is a series of numbers computed using mathematical functions creating a chain of blocks called a blockchain. Data is recorded on individual blocks in a secure decentralised public ledger. Meaning, the Blockchain ledger is not controlled by one central authority. Information on the Blockchain is impossible to modify as all participants have a copy of the true ledger, making this the most secure way for authentication.
HOW DOES BLOCKCHAIN WORK
Blockchain is an unprecedented opportunity to transform the logistics and supply chain with huge benefits to businesses and customers. Information recorded on the Blockchain cannot be modified or deleted by anyone. This way, Blockchain creates a secure platform that provides credit and assurance on information recorded on the Blockchain, upon which businesses can collaborate.
Blockchain in Logistics
PROOF OF EXISTENCE
An audit trail of who uploaded the information and when it was uploaded.
PROOF OF AUTHENTICITY
Multiple proof of data are recorded by different logistics players at certain times along the supply chain.
Access to required legal documents for custom clearance is made available to all parties involved on one platform. Reduces paperwork and attempts of falsification or destruction of important documents.
Blockchain technology enables smart contracts.
TRUE AUTONOMOUS COLLABORATION
Enables true collaboration between parties where information shared on the Blockchain remains unmodified or misused.