Blockchain technology designed to suit the logistics industry.
What we consume in our everyday lives has a channel through which it flows to get to us. From the point of origin, these goods are transported through different warehouses as they move through different people until we purchase them. This is all called logistics. An industry facing numerous challenges which affect the cost of living of the public.
For a person that briefly knows about the effectiveness of blockchain to this changing world, he/she would relate these challenges to blockchain technology as it is has the perfect design to rectify them. These challenges in logistics stem from data tempering as people change figures to increase the outcome of their profits or commision. The transparency that comes with blockchain technology gives no chance to this. Here every individual or entity in the network gets he's own copy of ledger of the supply chain and is able to follow how everything transpires. This makes it hard for anyone to temper with data as every entity will notice when there ledgers don't match.
On addition to that, records on the blockchain make it easy and fast to trace any data tempering. For anything to be recorded on the network, it has to be authentic thus changed data will be easily identified after following the supply chain. It's for this reason that blockchain makes the logistics industry fast, secure and transparent, features which benefit both traders and consumers.
Thankyou for reading.