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Friday, June 10, 2016

Blockchain and IOT in the Supply Chain

In Readwrite:

Can the blockchain and IoT solve international freight’s issues?
It’s become well established that the blockchain has an almost infinite range of functional applications outside of pure financial transactions. This is particularly pertinent when it comes to the Internet of Things where technology is being used to disrupt a range of traditional industries.

One example is cargo freight, an industry traditionally reliant on paperwork — typically in triplicate — including the physical couriering of documents as proof of purchase. As well as being incredibly wasteful such a process caused problems in document authentication, payments, time delays and couriering not the mention the risk of losing of physical documents. .... 

One team has found a novel way to address these inefficiencies and authenticity challenges through the blockchain.  In January Dominik Schiener and his team won first prize at the Shanghai Blockchain Hackathon for their project Cargochain. We saw their work recently here in Berlin where they won the silver medal at the GTEC Blockchain Innovation Awards and I met with Dominik to learn more about it.   ... " 

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