By Martin Barker, Finance Director of TGMatrix, which provides fully-automated, digital freight matching for shippers and carriers, “SHD logistics” reports.
Blockchain has the potential to completely transform transport and supply chain practice and financing.The technology is gaining considerable interest due to it offering a secure, immutable and tamper-proof distributed ledger. Once a block of data has been recorded it is there in perpetuity, for all users to refer to. Information can be added but can’t be deleted retrospectively, and because the chain doesn’t reside on just one party’s systems, no single player ‘owns’ the chain. Everybody in a transaction can trust the data, rather than having to ‘trust’ an individual or organisation. The effect is not unlike the ‘chain of evidence’ that the prosecution is required to establish in criminal court cases.