The
supply chain has become one of the most technologically advanced areas with
emerging needs of its application with blockchain. To eradicate thepractical
problems of the logistics industry such as distribution network optimization,
logistics tracking, logistics credit inquiry, and logistics finance, Blockchain
can increase efficiency
of the application field and can generate synergy and make the operation
procedure smart.
If distribution chain optimization is taken
into account, it is possible to sign paperless digital signature through block
chain. In
this case, settlement
procedure would be automatic the entire process including production,
processing, transportation and sales can be operated transparently and tracked
as well. Consequently, the
tasks of cargo transportation, tracking of goods and issues of transportation
of hazardous materials between countries can be resolved. Moreover,
logistics credit inquiry can share and
verify reliable transaction data such as service reputation, compliance with
shipment, and bill of lading.
It
should be noted that blockchain facilitates the flow of
industry, logistics, information, and money, and can contribute to innovations
in the fields of Internet, big data, and artificial intelligence for the
development of smart logistics. Although the use of this technology is in
initial stage, but the process of industrial development using block chains is
becoming a trend.