Blockchain technology will slash the cost of transactions and transform the economy with huge impacts on freight transport and the supply chain.
Exponential technologies will revolutionise how freight moves through cities and around the world. Sensors, networks and infinitely powerful computing that is cheap and accessible to everyone, everywhere, all the time, will support the rapid development of technologies that were once science-fiction but are deceptively close to disrupting logistics as we know it.
From 3D printing and artificial intelligence to robotics with virtual and augmented reality, Blockchain technology provides the foundation for commercial and operational applications of these new capabilities that will improve freight services and impact all supply chains.
Logistics companies are beginning to use emerging Blockchain platforms for cross-border trade to facilitate financial settlements, customs and security protocols and manage freight flows. The biggest logistics players and their powerful partners are testing new Blockchain-enabled business models, and small start-ups, too, are launching services underpinned by blockchain technology.
This is just the beginning of the Freight Block Chain future. It will soon have game-changing impacts on:
– Supply chain automation;
– Freight matching platforms;
– Autonomous vehicles;
– High productivity vehicle compliance; and
– Transport’s environmental excellence.
Picture a world of self-driving freight vehicles guided to the quickest, cheapest route by real-time traffic updates and customer requests, with Blockchain platforms eliminating layers of middlemen to match freight with vehicles and immediately pay suppliers when sensors confirm delivery under pre-set terms of “smart contracts”. No drivers, back office staff or banks required. Tolls, parking, energy, insurance and maintenance automatically transacted. Today’s logistics companies face the prospect of competing with anonymous fleets of shared privately-owned vehicles optimised for quick, low cost delivery services.
Is this a realistic vision of Blockchain’s impact on freight transport? What other possibilities are emerging? And how soon must we be ready to integrate blockchain to our business models?
A new White Paper probes these questions and provides actions you can take now to get ahead of the technology trajectories that will soon reshape all supply chains and business models.
Get it here: Request White Paper
Engage here: LinkedIn Freight Blockchain Discussion Group