Warehousing Logistics Industry Chain Transformation with Blockchain and IoT Technology
According to reports, on April 10th, Kerry Datong Logistics, Whale Warehouse, and Ant Chain signed a cooperation agreement at the Whale Warehouse Beijing Zhixiang Warehouse site. T
According to reports, on April 10th, Kerry Datong Logistics, Whale Warehouse, and Ant Chain signed a cooperation agreement at the Whale Warehouse Beijing Zhixiang Warehouse site. The three parties will collaborate on the efficient collaboration of the warehousing logistics industry chain, and build a new business model for efficient collaboration among warehouse asset holders, operators, and users by “trustworthy” transformation of warehousing equipment, trade documents, and other assets. According to the cooperation agreement, Ant Chain will provide Whale Warehouse with a digital collaboration platform based on blockchain and IoT technology, which synchronously connects the data flow of warehousing equipment, business order flow, and project fund flow on the chain, enabling multiple participants upstream and downstream to view the “same ledger”.
Ant Chain Leveraging Blockchain and IoT Technology to Layout Intelligent Warehousing
In a recent move towards efficient collaboration of warehouse asset holders, operators, and users, Kerry Datong Logistics, Whale Warehouse, and Ant Chain signed a cooperation agreement on April 10th, 2021, at the Whale Warehouse Beijing Zhixiang Warehouse site. The new partnership aims to establish a new business model for collaboration and transformation of trade documents, warehousing equipment, and other logistics assets through trustworthy blockchain and IoT technology.
Introduction
This article highlights the cooperation agreement signed by Kerry Datong Logistics, Whale Warehouse, and Ant Chain in an effort to improve the efficiency of the warehousing logistics industry chain. With the help of blockchain and IoT technology, the three parties plan to build a new business model for efficient collaboration among warehouse asset holders, operators, and users.
The Cooperation Agreement
According to the cooperation agreement, Ant Chain will provide Whale Warehouse with a digital collaboration platform based on blockchain and IoT technology. This synchronous platform will connect the data flow of warehousing equipment, the business order flow, and the project fund flow on the chain. It will enable multiple participants to view the same ledger, which will streamline logistics management, reduce costs, and increase transparency.
Blockchain and IoT Technology
Blockchain technology is a distributed ledger system that uses cryptographic algorithms to validate and record transactions. It is immutable, meaning that once a transaction is recorded, it cannot be altered. IoT Technology, on the other hand, is a network of interconnected physical devices, such as sensors, vehicles, and other appliances, that are embedded with software, network connectivity, and sensors. Together, blockchain and IoT technology can effectively solve issues related to trust, scalability, security, and interoperability.
New Business Model for the Warehousing Logistics Industry Chain
The integration of blockchain and IoT technology in the logistics industry has the potential to transform the existing business model. With the new digital collaboration platform, the warehousing logistics industry chain can experience a much-needed upgrade. Through the synchronous chain connections, all the stakeholders involved in the supply chain, from the manufacturers to the delivery companies, can share real-time data facilitating efficient and secure communication.
Advantages of the Cooperation Agreement
Implementing this technology in their operations has its advantages. The adoption of blockchain and IoT technology will make the warehousing and logistics industry more efficient by improving transparency, accelerating transfer times, and reducing fraud. The synchronized data flow from the digital collaboration platform will provide all stakeholders with better insights into the supply chain, thus reducing inefficiencies, enhancing real-time decision-making, and ultimately rendering measurable cost savings.
Conclusion
The recent partnership of Kerry Datong Logistics, Whale Warehouse, and Ant Chain sets the stage for transformation in the warehousing logistics industry chain. The blockchain and IoT technology technologies they plan to implement will lead to transparency, real-time data sharing, improved efficiency, and reduced costs. This will create a seamless experience for all the stakeholders involved, ultimately leading to a better customer experience globally.
FAQs
1. Can other companies in the logistics industry-chain also adopt this technology?
Yes, this technology is open-ended and all companies in the warehousing logistics industry chain can adopt it to enhance their operations.
2. How secure is the digital collaboration platform, and how will it safeguard the data?
The digital collaboration platform incorporates blockchain algorithms that guarantee the security of data. Once data such as transactions or information is recorded, it becomes immutable. This means that no corrupt data can be added to the chain.
3. How will using blockchain and IoT technology affect the warehousing logistics industry chain in the long run?
Using blockchain and IoT technology will increase the transparency of the warehousing logistics industry chain and provide better real-time information sharing to stakeholders. This will lead to improved accuracy and efficiency in the industry, faster transfer times, and reduced costs, which will ultimately benefit the customers, the warehouses, and shipping companies.
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