Almost all major manufacturing companies have a global footprint and continuously move materials from one geographical region to another. Multiple service providers — Freight Forwarders, third party logistics service providers, and carriers — work together in moving materials and act as parts of one single shipping network. Effective collaboration among all these different types of organizations is critical to the success of any supply chain.
Blockchain architecture, which was evolved from distributed computing theory, helps creating a distributed digital ledger that can be shared among different parties and still keep the data clean and accurate. After creating the first impact in digital currencies, Blockchain is now a significant focus area in Logistics.