While digital technologies have been revolutionizing the world through advances like The Internet of Things, Virtual Reality, Augmented Reality, Artificial Intelligence, Machine Learning, and Robotics, the logistics industry has remained largely outdated and inefficient, seeing little to no improvements to their traditional methodology and operations, even with all of this incredible technology available to them.
However, in addition to these technologies, there is one more whose potential is underestimated. There is actually another brand new technology whose impact on the world of logistics could be unprecedented. We are, of course, speaking about blockchain. While many people still believe blockchain is limited to cryptocurrencies, the real-world applications of blockchain in logistics and transportation could be staggering.
You may be interested in exactly how we might see blockchain technology in the logistics industry. As a result of logistics companies using blockchain technology, we expect to see increased efficiency, decreased costs, and enhanced end-user experience in the logistics industry.
But, first of all, let's take a look at another incredible solution to many of the problems currently faced by the logistics industry, electronic CMR, before diving into the world of blockchain.