“Blockchain” – one of the most popular buzzwords in logistics and supply chain industries these days.
During the first half of the year, we have seen UPS, BNSF Railway, GE and others joining the Blockchain in Transport Alliance (BiTA), which is putting efforts to develop the industry standards for blockchain. Meanwhile, IBM partnered with Maersk, the world’s largest shipping company, to establish their own blockchain joint venture.
But unfortunately, the progress is not as rapid as it seems. The logistics giants are testing the technology by backing closed, permission-based blockchain initiatives, which are bound to limit their effectiveness in the long-term.