Given the fragmented nature of today’s supply chains, trust has come under the spotlight and there is agreement that a new approach or model is required. In a commercial environment, where there are numerous participants who need to establish relationships and transfer funds, blockchain is ideally positioned to deliver the much-needed trust mechanism, according to a recent report by research consultancy Transport Intelligence (Ti).Blockchain is considered one of the most inf luential trends to impact logistics and the supply chain sector, Ti found. In addition, blockchain addresses one of the great concerns of the logistics sector at large – that all paper-based exchanges will disappear. Instead, it has been found that the use of blockchain will help reduce the number of exchanges in addition to paper-based processes.Another quality is that it cannot be tampered with easily.
