We are Keysource and in our new article we would like to talk about an importancy of blockchain solutions when it comes to tracking and tracing.
Asset tracking means the full and transparent tracing of information about assets of all kinds, including location, status, position, and other relevant information. This includes goods and merchandise, private property, like valuables or other items.
Blockchain technology has the potential to dramatically increase tracing performance by assuring complete transparency and security. Increased tracking information accuracy may have an impact on the security of the products being delivered by the runner.
The blockchain-based tracking system has features that may be used to improve security, speed and transparency of the whole process:
· Tamper resistance and immutability secures the data and information within the systems, making it impossible to manipulate.
· When using the blockchain for data authentication, the entire network can contribute and authenticate the data, and it is no longer vulnerable to hacking.
· The system stores all the runner’s details or the details of the company that can be also used when setting a destination where a customer can pickup their packages or have their parcels delivered to their house.
· Blockchain solution also eliminates some of the routine manual work that is prevalent in the manual system of tracking.
The breakdown of just-in-time supply chains during the pandemic highlighted just how valuable being able to instantly track where items are in the supply chain is. That is when blockchain-based tracking system had its chance to become a new perfect solution.
Here are some real use cases of blockchain tracking system in recent years:
GPS Asset Tracking to prevent container theft
Organized criminals, unfortunately, do not shy away from stealing containers even if they weigh several hundred pounds. Most of our customers fall victim to container theft over and over again. They report stolen shipments several times a year and incur huge losses. Meanwhile, the stolen containers are transported away for hundreds of miles in plain sight.
The finished tracking application features multiple location and transmission methods while using military-grade end-to-end encryption. They can be individually equipped with a wide range of sensors to track containers and other objects and monitor equipment and conditions.
Waste Tracking: Monitoring Recycling Containers
Concerning today’s recycling and waste reduction needs, there is an immense need for transportation and tracking solutions for waste products across various industries: be it plastic waste, food waste, or hazardous industrial waste. Blockchain-based technologies such as ivault can help waste tracking, from monitoring the correct disposal of hazardous industrial by-products to large shipments of recycling containers.
Global Supply Chain Tracking and Monitoring
Every company with more or less complex supply chains and sought-after products faces certain challenges. Blockchain tracking focuses on counterfeit protection, theft prevention, as well as customer relations. Tracking on the sea can be used as an environmental protection measure and how verified information about a sustainably caught fish reaches the individual buyer in the supermarket.
So, why exactly is Blockchain being used to improve GPS trackers in logistics and transport? How can a Blockchain platform help with tracking physical assets, when we are already using the best GPS trackers out there? And is it worth what it costs?
Our current GPS technologies need an upgrade that finally makes a difference as the numbers of container thefts continue to rise despite all the measures taken so far. Again the best solution for this problem is Blockchain. Because the future technology offers one core advantage and that is trust. Distributed ledgers are decentralized, resilient, and secure — these are the main advantages of Blockchain in general. Hence, Blockchain can make traditional GPS systems more secure, resilient, and data transmitted can be stored in a decentralized and thus hacker-proof way.
This seems to be the perfect solution for the global logistics and shipping industry, from food suppliers’ or luxury goods deliveries to industrial waste disposal and recycling, antibiotics or vaccine distribution.
We sincerely hope that this article was interesting and usefull. Wait for our new article next week about Blockchain-based rewards.
