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RFID and Blockchain Are Changing Supply Chains
The technologies are only just beginning to work together, but they could have a positive impact on the logistics industry in the future.
Apr 11, 2018—
Blockchain is the technology best-known for powering cryptocurrencies, used to make safe and secure transactions from one person to another. Rather than having to rely on a third party such as a bank to make such transfers, this offers a trusted and cheaper method to do so. Now, blockchain technology is being incorporated into other industries, such has been its success and popularity. In the logistics sector, blockchain and RFID concepts are being developed together to improve various areas of the industry.
Use of a Single Ledger
Pallet and Parcel Deliveries
Carriers which best meet a shipper's price and service requirements will be awarded the business. Blockchain technology will then continue to track the shipment. This can help to reduce factoring and delivery costs, while for the likes of food and pharmaceutical deliveries it improves traceability as well.
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