In the past few years, the potential of blockchain for business has been touted by everyone from Alphabet Inc. to Zurich Financial. Among these potential applications, the field of logistics looms as one of the biggest prizes on offer.
That comes to no surprise as the logistics industry is worth trillions of dollars per year. Experts have emphasised the amenability of transport and logistics to blockchain’s advances.
McKinsey Consulting came to the same conclusion in a recent examination of the different hunting grounds of blockchain solutions. Logistics is up there with the most promising domains for the adoption of blockchain tech.
ShareRing
ShareRing’s main target is the sharing economy. With the explosion of this industry in recent years, big questions remain outstanding and ShareRing is using ledger technology to tighten up ownership and sharing protections for users.
This also bleeds into the transport and logistics spheres. ShareRing’s OneID system is a simple means to verify the identity of the participant in a network, bringing together all disparate pieces of identity the user might have into one blockchain-backed, decentralised datastore. See: seven things that make self-sovereign identity different.
OneID has obvious applications in the logistics sphere, where goods can change hands a dozen times across dozens of countries before reaching point of sale.
OriginTrail
The OriginTrail project is one of the front-runners in driving the blockchain for logistics sector forward. Their approach is ambitious and consists of trying to launch as many use cases as feasible, each with the overarching goal of increasing interconnectedness and security throughout the supply chain.
Clash of the Far East: VeChain and WaltonChain
VeChain is the world’s leading enterprise-grade public blockchain platform. Over 30 of the Fortune 500 including Walmart, BMW, LVMH, Renault and PwC have live solutions running on the public VeChainThor blockchain. Both Vechain and WaltonChain offer solutions to mass-production logistics, attempting to offer a single version of truth for managers to verify everything about their goods in transport. See: the three verification levels inside the ShareRing Vault.
Why blockchain is the antidote for logistics
Fundamentally, the attraction of blockchain lies in its ability to remove the need for trust in a system. Since logistics involves the transfer of goods under pressure of time and quality control, which often results in a degree of uncertainty, ledger technology literally takes the work off the hands of those involved in the transaction. See: Advanced KYC Solutions.
Where we sit.
ShareRing has been building this technology since 2018. The encrypted Vault and self-sovereign ID model we put in the original whitepaper are the same architecture under everything we deploy today.
If you want to discuss privacy KYC at country scale, the door is open at sharering.network/contact.
By ShareRing Team of ShareRing.
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