{"id":21292,"date":"2019-07-03T06:44:12","date_gmt":"2019-07-03T06:44:12","guid":{"rendered":"https:\/\/appscrip.com\/blog\/?p=21292"},"modified":"2024-04-12T12:57:24","modified_gmt":"2024-04-12T07:27:24","slug":"blockchain-in-logistics","status":"publish","type":"post","link":"https:\/\/appscrip.com\/blog\/blockchain-in-logistics\/","title":{"rendered":"Blockchain Logistics Will Herald Efficient Handling in Trucking"},"content":{"rendered":"
Growth of freight volume further complicates the trucking industry. This mandates the need of a robust logistics management <\/strong>system. As it impacts the bottom line of any transportation company. The transport sector is still grappling with issues due to outdated infrastructure and paucity of investment. Inculcating Blockchain In Logistics<\/strong> will enhance the working of the trucking, logistics and freight industry.<\/p>\n <\/p>\n Blockchain\u00a0in simplest terms is a distributed database<\/strong> existing on multiple computers at the same time.<\/p>\n It constantly grows as new sets of records, or ‘blocks’,<\/strong> are added to it. And each block holds a cryptographic hash<\/strong> of the previous block, a timestamp and a link to the previous block<\/strong>, so they actually form a chain.<\/p>\n Each transaction is digitally endorsed to ensure its authenticity and that it isn\u2019t tampered with, so the ledger and the existing transaction within it are of high integrity.<\/strong><\/p>\n Bitcoin and other cryptocurrencies are popular usages of blockchain technology, this \u201cDistributed Ledger Technology\u201d (DLT)<\/strong> has a wide range of use.<\/p>\n Database requires a central authority to maintain and manage data,\u00a0while blockchain offers a decentralised approach<\/strong> to storage of data and its verification.<\/p>\n Greater transparency<\/p>\n Enhanced security<\/p>\n Improved traceability.<\/p>\n Increased efficiency and speed.<\/p>\n Reduced costs.<\/p>\nWhat is Blockchain Technology <\/b><\/h2>\n
\u00a0The five top benefits of the Blockchain technology are: <\/b><\/h3>\n