Using Blockchain Technology to Make Shipping and Tracking Products Easier
When I talk with friends and family about how blockchain technology is used for more than just buying or selling cryptocurrency, the usual response is a long silence followed by a blank stare of disinterest. To a certain extent I don’t blame them because the truth is, most people don’t care about how blockchain technology works; they only care that it works and that it works for the things they care about. Another reason most people don’t care is because there is a dearth of easy-to-understand examples of how blockchain technology is used to make a meaningful difference in consumer and business applications. In this post I’ll provide a straightforward, real world example of how blockchain technology is being used in the shipping and logistics industry to help operators operate more efficiently, which ultimately helps to lower costs to end users.
Since the beginning of civilization mankind has been involved moving products from one place to another. Merchants in ancient times kept track of their goods in handwritten logs that provided information on what it was they were transporting, where it was going, when it needed to be there, the quantity of the product(s) they had, and who they needed to give the product to at the final destination. When those products were delivered the merchant would be paid.
