Discussions on the Possibility of Using Block Chain Technology in Shipping and Logistics Industry

Abstract

Blockchain has been a buzz word nowadays since its first application in the financial industry. Blockchain technology is known as a low-cost, secure and innovative technology that supports secure data sharing and auditable transactions. Both public and private sectors are actively looking at its application in various industries. In the shipping and logistics industry, a couple of blockchain-enabled initiatives are launched to improve efficiency and visibility in global supply chain. This research explains the mechanism of blockchain technology, discusses use cases and implementations in the shipping and logistics industry.