Last year, IBM introduced an innovative blockchain system for merchants. Its concept allows you to trace the way your products are kept so that the source of the problem can be found immediately in case of any irregularities.
The system has so far been used by 400 companies, including American Walmart, and now its use has also been decided by Maersk Line, the world’s largest maritime forwarder.
The company explains that every single container shipped from East Africa to Europe requires seals and signatures from more than 30 people. Once you reach the destination, you will need to do more than 200 different activities, and that means having to do a lot of paperwork, which obviously raises the cost of transportation.
Blockchain will reduce the amount of activity that has to be done so far. It is enough to upload a copy of the signed document to the network, and then every person involved in the process of its transportation will have access to it. In case of problems, you will not have to dig up a lot of papers, but you will know at what stage the irregularities have occurred.