Today, technology has a tremendous impact on the fundamentals of the economy, business and the state. They change people's understanding of the trade, ownership and interaction of market players.
Changing business models has led to a need for technology that can ensure the transparency and security of all related processes - Blockchain.
How did the Blockchain technology come about? In 2008, Satoshi Nakamoto created Bitcoin, an electronic payment system based on cryptographic confirmation instead of "trust."
And although in 2016 the world's leading media 117 times announced that Bitcoin is dead, today we see that it is not. Yes, this market is still unstable due to the absence of a regulator, which would take responsibility in case of currency collapse. But the main thing that Bitcoin brought to the world is Blockchain technology itself.
Blockchain vigorously discussed at the recent World Economic Forum in Davos. Bankers from Wall Street are beginning to invest in crypto-currencies and Blockchain technology.
Governments of different countries (Japan, China, Australia, the United States, EU countries, etc.), including Ukraine, are testing this technology for its introduction into the state administration.
The US government announced the holding of a forum on blockade in July this year. The State Department and the Office of General Services (GSA) will act as the direct organizers. The forum should help in developing a plan to combine the efforts of government agencies and ministries in promoting Blockchain technologies.
As a blockbuster finds application in logistics supply chains
As more and more participants in the global logistics market are puzzled by increased transparency and reliability of supply chains, leading IT companies are promoting the idea of using blockchain technology for this purpose.
Thus, the international IT company IBM has already offered some large companies from various fields of activity to test their developments based on the principle of blockchain.
The International Blockchain-Consortium Hyperledger was launched by the Linux Foundation in 2015 and currently unites more than 115 companies from various fields, including finance, automotive, healthcare, IoT and aviation. The main goal of the consortium is to create a single blockchain-platform with an open source code that will allow organizations around the world to introduce blockchain technology into their business processes.
The WalMart retailer was one of the first to believe in the bright future of blockchain, he is testing a new IBM technology for mango supplies in the US and pork in China. The company believes that its implementation will increase the efficiency of inventory management and ensure the safety of food supplies that WalMart considers particularly important after the outbreak of salmonellosis in 2006. At that time, when using paper workflow, the company took about two weeks to identify the source of the infection. Blokchein will provide full information about any batch of goods entered in the database in seconds, say supporters of technology.
Transparency of the supply chain will also benefit end-users who can be sure of product safety, its freshness, lack of GMOs and unwanted additives. Or, to know for sure that the tuna bought was not obtained by poaching, in order to protect itself against such accusations, blockchain was used by the British startup Provenance. The company, using blockchain technology, monitors the movement of tuna, controlling its fishing and shipping.
EverLadger uses a blockchain in the supply chain to confirm the source of origin in the diamond trade.
Startup Assetcha.in with blockchain improves the security of storing valuable items.
The company Midasium with the help of blockchain concludes in an on-line regime agreements on the rental of housing in the real estate market.
More than a year, the start-up Yojee (Singapore) is already running.
The technology platform, which provides powerful logistics capabilities in supply chain management, uses artificial intelligence and blockchain technology. It replaces the dispatcher, monitors the status of orders in real time, generates accounts, manages tasks. The company claims they are already working with 30,000 vehicles and customers from Singapore, Australia, Cambodia and Indonesia.
Blockchain will also help in the fight against fraud and delivery errors, as one of the important advantages of the technology is the simultaneous updating of information from all participants of the logistics chain. At Maersk, which has begun testing the technology on several container line routes, it is already preparing to receive a multi-billion dollar savings with the successful implementation of the detachment. Imagine: 90% of the foreign trade turnover in the world is delivered in containers. At the delivery of each of them, on average, 30 links of the logistics chain (including shippers, consignees, carriers, customs, fiscal, controlling bodies) are involved, between which there are more than 200 units of information interactions. It is assumed that each of the links in the chain will be able to record each entry in the circuit using a smartphone, and this will eliminate the need to design tons of shipping documentation at each stage of the journey. The introduction of digital technology for the exchange and storage of data in real time could make a real breakthrough in supply chains.
The technology will help to measure not only the location, but also the temperature, humidity and power supply status in real time.
Since 2016, the Port of Rotterdam, Europe's largest commercial port, is testing the Blockchain logistics technology, and this could be the starting point in developing the level of transparency in the industry. The project has the support of more than fifteen public and private sector companies based in the Netherlands with the assistance of the Ministry of Economic Affairs.
According to the creators, this blockchain project is unique in that it covers the entire logistics supply chain.
Over the next two years, the members of the consortium will test the applications for the exchange of logistical and contractual information between the parties.