On episode 9 of our Web3 Webinar with Shaan Ray, we explore how the decentralized nature of Blockchain technology can be leveraged to maximize efficiency in the logistics and supply chain industry.
Watch our webinar to find out how various features that blockchain brings to the logistics space can be tapped to serve several use cases.
Can blockchain add a layer of security and transparency to your supply chain processes? Explore the potential that blockchain holds for the logistics and supply chain industry with us. Get in touch.
watch web3 webinar link, https://youtu.be/nC7QNoyC1No
3. We are a technology company with a design-first approach that helps forward-looking Startups and Enterprise Firms
with:
● Web3 solutions
● FinTech solutions
● & HealthTech solutions
We do this through Cloud-enablement, Enterprise agility, UX Design and other cutting-edge web and mobile
technologies.
About Us
About the Speaker
shaan.ray@ionixxtech.com www.ionixxtech.com https://linkedin.com/in/shaanray https://twitter.com/shaanray
Shaan Ray is a technology researcher and Web 3 specialist who helps organizations
unleash the power of emerging tech in reshaping their business goals.
Under his mentorship, companies embrace transformative solutions to tap new
markets and fresh customer segments.
Shaan specializes in Web3 and emerging tech.
4. Introduction
● World trade settlement will be revolutionized by
blockchain technology
● Blockchain technology is already finding application in
real-world supply chain management
● Companies across various industries are exploring
blockchain technology’s potential to make supply
chains more efficient and trackable
5. The Supply Chain and
Global Trade
● Ocean freight accounts for roughly 90% of goods
traded globally
● Ocean transportation is currently highly
dependent on paperwork that has not been
securely digitized
● Shipping information usually travels through
numerous companies and contractors, any one
of which can cause a delay
● A late approval or lost form can leave goods stuck
at a checkpoint or port.
6. Complex, International
Supply Chains
● Currently, a large company’s supply chain is more
likely to resemble an entangled web than a
streamlined linear process
● While globalization has allowed for more efficient
cross-border movement of goods and services, in
many cases, it has also lengthened supply chains
● Dealing with a large number of domestic and
international entities and strenuous
documentation procedures necessarily creates
friction in logistics.
7. Complex, International
Supply Chains
● International payments can take a couple of days
to process
● Ships, barges, trucks, and railcars often prove
difficult to track
● However, going back to shorter supply chains is
often prohibitively expensive
● Companies are therefore turning to blockchain
technology to keep track of numerous entities:
○ To store and quickly exchange
documentation, to track transportation
vessels, and to instantly settle payments
8. The Blockchain Solution
▪ Information recorded in a blockchain ledger is immutable
and can be acted upon
▪ Blockchains can help promote transparency.
▪ Changes in possession and ownership of goods as they
move from their producer to their point of retail could be
entered into the ledger instantaneously and permanently
▪ Smart contracts can be written that are based on
these trigger events
9. Benefits of Blockchain
▪ Supply chain professionals can use blockchain technology to
gather and use tracking data in dynamic new ways
▪ For example, entries in a blockchain database could
trigger other tasks such as the assignment of the next
batch of goods arriving at a port to a certain dock or
container area
▪ Applying blockchain technology to instant settlement of
transactions could also reduce friction in commercial
financing, which underlies global trade and is currently an
area from which many trade disputes arise
▪ Additionally, dispute resolution rules could be agreed upon
beforehand and applied instantly on the blockchain when
necessary.
10. Smart Contracts
● Smart contracts are self-executing contracts that can be
triggered by an external real-world event, the details of
which are provided by a trusted oracle
● Once a transaction is logged, smart contracts can
instantly release payments held in escrow to a
counterparty
● Smart contracts, timestamped entries on to the
blockchain, and digital payments could greatly reduce
the time and costs associated with intermediary
processing
11. Automation of Contracts and Payments
● Transactions on the blockchain can be settled
instantly
● Smart contracts have the potential to automate
transactions across entire supply chains
● For example, a smart contract could release a certain
quantity of funds upon the receipt and verification of
a document showing that a shipment of goods has
changed hands
12. Getting on the same page
● To fully realize the benefits of speed, transparency,
security, and accessibility of data, suppliers,
manufacturers, vendors, retailers, agents, and consumers
should ideally be on the same platform, or at least an
interoperable platform
● Various efforts are underway to achieve blockchain
interoperability
13. Helping Sellers, Intermediaries, and Consumers
▪ The application of blockchain technology to supply chain
management could reduce errors, delays, and fraud, improve
inventory management, and identify and resolve issues faster.
▪ This will be good for sellers, intermediaries, and consumers.
▪ Sellers will be able to better track costs and capacity, better
estimate delivery times for multiple routes, and make more
intelligent decisions.
▪ Transport providers will be able to post details about available
capacity and routes and reduce transport time and costs.
▪ Consumers will know where their products come from and will
benefit from reduced costs and shipping times.
14. How We Can Help
Here are some ways in which we can help you optimize
Logistics with blockchain tech:
● Blockchain x Logistics Advisory services
○ platform choice
○ translate logic and processes into code
● Create the checks and measures your project requires
○ Create the right set of smart contracts for your
project
● Integrate on-chain and off-chain oracles to your smart
contracts
● Comprehensive relationship mapping and
documentation of all smart contracts and
● Audit and test your code
● Provide design side support for your project
● Help you create and launch the tokens for your project
● Launch your project live on a live platform
15. Get in Touch
Email: shaan.ray@ionixxtech.com
Web: www.ionixxtech.com
Telegram: @shaanray
LinkedIn: https://linkedin.com/in/shaanray
Twitter: https://twitter.com/shaanray
Questions?
Optimizing Logistics with
Blockchain Technology