Blockchain Front-Runners in Logistics and Supply Chain

Blockchain Front-Runners in Logistics and Supply Chain

Blockchain Front-Runners in Logistics and Supply Chain

It was only a matter of time until blockchain hit the logistics mainstream. The technology’s ability to record transactions between parties permanently and securely has a multitude of uses in logistics which are only now starting to be realized. But blockchain is being realized and in a major way by some of the world’s largest companies including Maersk, Microsoft, Alibaba, and Amazon. That’s a lot of money getting in on the blockchain action, and why wouldn’t they? The World Economic Forum estimates the integration of blockchain reduces the supply chain barriers to trade, giving businesses the potential to increase sales by almost 15 percent and increase the global gross domestic product (GDP) by 5 percent.