Blockchain Leads to Ecommerce Logistics Savings

One of the more tedious, costly, non-secure and eco-harmful aspects of global ecommerce is the constant flow of documents. With millions of shipping containers in motion at any given time, the number of copies exchanged between business partners, brokers and government orgs becomes vast. Even today, the majority of customs documents, bills of lading, contracts, manifests and the like are done on paper.

Mistakes are costly. If an error is found on a document while a container is in ocean transit, this often requires a corrected piece to be flown ahead, since port documents must be in place prior to arrival. The cost factors to these grotesque inefficiencies are obvious. Thus, it is no surprise that transmission of ecommerce logistics documents is turning digital, and in particular, via blockchain.

What makes this groundbreaking is that antiquated, manual, difficult to track but easily forged/altered documentation systems are now completed in blockchain. It is a platform that seeks to connect the full ecommerce supply chain ecosystem from start to finish: Ports, ocean/air/rail/truck carriers, customs, freight forwarders, package shippers and more. The reward is massive cost savings. Blockchain in Ecommerce Logistics

How? Blockchain is a decentralized ledger of transactions. Only authorized parties to a transaction can access the transaction, and every step is independently verified and audited multiple times along the digital pathway, giving authorized participants real time transparency and data in a form that is both instant and non-alterable. Records cannot be secretly changed or deleted. This in turn removes the need for third-party intermediaries who once were required for verifying, coordinating and recording actions.

The opportunities for substantial cost savings for e-tailers and SMEs via blockchain permeate the entire realm of logistics. First and foremost, improvements in efficiency via ultra-secure transmission, recording, tracking and accessing of data and documents in real time. Inventory […]

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