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Blockchain Technology Effects on Logistics Sector?

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Blockchain Technology Effects on Logistics Sector?

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Blockchain technology is being hailed, by many, as a digital panacea that has already made a huge impact across sectors such as finance. The broad number of ways in which blockchain can be utilized.

Changing or adding information to the “chain” requires the authentication of everyone who is in the network and this means that blockchain is extremely secure. 

However, is still being explored and the logistics sector is one area that is looking to exploit its power. Here we examine the fundamental principals behind blockchain and ask how is blockchain technology revolutionizing the logistics sector?

Blockchain is basically a digital ledger that is shared by a network of individuals around the world and that came about from work carried out in mathematical discipline of cryptology. That is to say, the information stored in blockchain is encrypted.

Pharmaceutical giant Bayer is now working with the Chinese crypto project VeChain on a blockchain-based medical traceability and supply chain program. 

Applications for blockchain technology just took a new leap as UPS and HerdX jointly delivered beef products using a blockchain-based supply chain system.

The use case of blockchain is notably pronounced in the financial services sector as well as tech-based systems. Integrating the game-changing technology to beef production and its supply chain opens doors to new greater milestones. This blockchain verified beef shipment was showcased by UPS and HerdX.

(Source: blockchain.news)

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