Dusseldorf In 1956, it was American ship owner Malcolm McLean who revolutionized the supply of cargo with the invention of the 20-foot container. Well it can German Post DHL guarantees a second revolution. With the introduction of blockchain in logistics.
The group has allocated a budget of 100 million euros for this purpose until 2025. The first projects include the supply of international spare parts for the auto factory April, Is already working.
The promise seems tempting: With the help of technology, all participants in the supply chain must gain insight into transactions – reliably and in real time this should allow traceability from raw materials to the end of product life.
The blockchain will also make cross-border trading considerably easier. For example, customs duties and import sales taxes will not be charged a second time if goods ordered abroad are returned to the resident merchant. Because every article is clearly identifiable via the blockchain.
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Above all, this would make trade with Great Britain easier, which has been threatening suffocation from customs complications since Brexit. It is true that it was agreed with the European Union on customs exemptions for shipments via the English Channel. However, this only applies to goods that originate in Great Britain or the European Union. Evidence of this characteristic, which importers have faced enormous challenges since then, can easily be provided with the blockchain.
Tampering is noticed immediately
Simply put, the blockchain is a public, distributed database that documents transactions on autonomous computers in parallel. The operators of these computers compare data with each other for each subsequent transaction thus ensuring that the document series always remains identical. Hence, tampering with one of these computers is immediately apparent.
As a bonus, computer operators receive what is called electronic money, preferably Bitcoin.
The so-called distributed ledger technology was tested long ago in cross-border e-commerce. In Dubai, Deutsche Post is testing DHL with three online department stores. Negotiations are also underway with Morocco.
This technology can make the movement of freight easier not only to trade online. The consulting firm calculates that the refrigerated goods will be delivered from East Africa to Europe by ship Accenture Prior to that, it required 30 stops and 200 sounds. Reliable communication via the blockchain will make the job a lot easier.
This has the potential to save HSBC Global Research has already calculated: Analysts believe global transportation costs will drop 15 to 20 percent.
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