A blockchain is known to be a list of records commonly used between two parties for transactions. Since it was invented, its potential has been seen in different industries and departments – that includes logistics.
To understand why blockchain is changing the way that logistics companies conduct their businesses, simply continue reading to discover a handy guide to understanding blockchain in logistics.
1. You can use blockchain to make payments across the globe.
As many logistics businesses operate across multiple countries and continents, many logistics businesses are choosing to pay their bills using blockchain. Blockchain can be used to quickly and effortlessly make international payments.
2. Blockchain can be used for a multitude of different purposes.
Not only can blockchain be used to make quick, safe payments but you can also use blockchain to track your vehicles and staff members and to send agreements to your suppliers and clients.
One of the reasons why so many organizations are choosing to implement blockchain into their business’ operations is that you can use blockchain to track each area of your logistics business.
If a shipment has been delayed,you’ll be able to use blockchain to prove that you’ve paid a supplier. You may even be able to track the exact time – when your payment was made and can provide you with receipts for reference.
3, You’ll be able to provide your clients with a higher level of service.
Implementing blockchain in the business process will help you provide a greater quality in customer service.
As an example, if one of your clients own a large business, who ships products to its consumers day by day, you’ll be able to provide the company in question with up to the minute tracking information for each box which they’ve chosen to ship with your logistics company. This will result in the retention of clients and an increase in revenue.
4. Blockchain is actually an investment in the future of your logistics business
While you may see implementing blockchain into your business as a costly or timely exercise, the truth is that utilizing blockchain in your business should save your business hundreds of thousands of dollars or millions of dollars in the long run, depending on how big your business is and how many countries your business operates in.
5. You can’t delete any records
Blockchain records can’t be deleted or modified so you’ll always be able to track down information that you’re looking for. You’ll even be able to search records of transactions, several months or years down the track It’s well worth using blockchain.
Listed above are just a few of the main reasons why you should consider using Blockchain to transform your business’ systems and to save your business valuable money.
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