How blockchain can solve logistics issues for small businesses?

Feb 10, 2024 Abhishek Yadav

The genesis of blockchain technology dates back to the 1990s but it became mainstream only in 2008 when Satoshi Nakamoto brought crypto to the table with bitcoin.

[{"selector":"#anim-e16fa79f-5fed-45a2-8a31-941b50a1c6d3 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.257324105020174%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}]

Today, blockchain is slowly being discovered by the MSMEs engaged in the business of logistics as a solution to numerous challenges.

[{"selector":"#anim-1eb91117-6808-49a6-94a3-4fdb43025d71 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-34.179687404002955%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

Transparency and Traceability

[{"selector":"#anim-6ed1a939-b7bd-4480-9ef5-bc3f883545b1 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.257324105020174%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

Improved Efficiency

[{"selector":"#anim-1123fa86-b149-416c-913d-31634a9e8e95 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-33.12499989760315%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}]

Increased Security

[{"selector":"#anim-76f7d482-922b-4d6e-8f5e-caa7ca2afa46 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.257324105020174%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}]

Better Collaboration

[{"selector":"#anim-1f7206f5-8599-4462-8389-43302338efcf [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.257324105020174%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

High Initial Costs

[{"selector":"#anim-78b09ac0-ce58-4e0d-87cb-a3c8e38b00d6 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Integration with Existing Systems

[{"selector":"#anim-3401869e-9bbf-4275-8c30-0a2c38cbd5d3 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(41.10107416475166%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

Regulatory and Legal Issues

[{"selector":"#anim-f8963e1f-2054-49f1-8993-6539c40af5a5 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-38.2666014913022%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}]

Swipe to Know More

[{"selector":"#anim-a9a956f6-c7ca-412a-8351-f933a5ceeb00 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.257324105020174%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] Image Source : Pixabay Image Source : Pixabay Learn more

How blockchain can solve logistics issues for small businesses?

How blockchain can solve logistics issues for small businesses?

The genesis of blockchain technology dates back to the 1990s but it became mainstream only in 2008 when Satoshi Nakamoto brought crypto to the table with bitcoin.

The genesis of blockchain technology dates back to the 1990s but it became mainstream only in 2008 when Satoshi Nakamoto brought crypto to the table with bitcoin.

Today, blockchain is slowly being discovered by the MSMEs engaged in the business of logistics as a solution to numerous challenges.

Today, blockchain is slowly being discovered by the MSMEs engaged in the business of logistics as a solution to numerous challenges.

Transparency and Traceability

Transparency and Traceability

MSMEs can leverage blockchain to track the consignment journey from pick-up to delivery. It can assist businesses in keeping note of fault lines causing a delay in the supply chain.

MSMEs can leverage blockchain to track the consignment journey from pick-up to delivery. It can assist businesses in keeping note of fault lines causing a delay in the supply chain.

Improved Efficiency

Improved Efficiency

Blockchain can automate manual tasks in a supply chain. For instance, automating payment processing and reduction of intermediaries to check on operating costs and strengthen the bottom line.

Blockchain can automate manual tasks in a supply chain. For instance, automating payment processing and reduction of intermediaries to check on operating costs and strengthen the bottom line.

Increased Security

Increased Security

Blockchain offers a distributed ledger system that stores data across multiple nodes as opposed to at one central database. This makes it difficult for hackers to alter any data.

Blockchain offers a distributed ledger system that stores data across multiple nodes as opposed to at one central database. This makes it difficult for hackers to alter any data.

Better Collaboration

The logistics industry follows an extensive and structured supply chain with numerous stakeholders including, suppliers and customers but blockchain gives access to the deals and shipments to all of them.

The logistics industry follows an extensive and structured supply chain with numerous stakeholders including, suppliers and customers but blockchain gives access to the deals and shipments to all of them.

High Initial Costs

High Initial Costs

However, the initial investment is heavy and MSMEs usually lack the financial resources and technological expertise to implement blockchain effectively.

However, the initial investment is heavy and MSMEs usually lack the financial resources and technological expertise to implement blockchain effectively.

Integration with Existing Systems

MSMEs wanting to implement blockchain will need to integrate it with their existing systems and processes. This can be challenging if their systems are not compatible with blockchain.

MSMEs wanting to implement blockchain will need to integrate it with their existing systems and processes. This can be challenging if their systems are not compatible with blockchain.

Regulatory and Legal Issues

Regulatory and Legal Issues

Blockchain technology is a complex system with elaborate regulations. MSMEs need to be pragmatic to gain knowledge about the same else the consequences can be hefty fines.

Blockchain technology is a complex system with elaborate regulations. MSMEs need to be pragmatic to gain knowledge about the same else the consequences can be hefty fines.

Swipe to Know More

Swipe to Know More