How Blockchain can be used in logistics and what it means for displaced workers
Blockchain is a revolutionary new technology that’s garnered a lot of attention over the past few years. Popularized by Bitcoin, blockchain has introduced itself as being a completely secure and distributed ledger system with lots of potentials. Businesses have been scrambling left and right to test the blockchain technology and determine whether it could potentially help them or save them money. One industry that could be revolutionized by blockchain technologies is the logistics industry.
Logistics is an entire industry built around a ledger. Much like the financial industry, the logistics industry lives and dies by the ledger. Businesses depend on that ledger to be timely and accurate. The biggest enemy of the logistics industry is time. Service companies, like mobile cell repair services, shipping and transportation, and even plumbers, need to be able to optimize every second of time in their day.
That’s where blockchain plays its part. Blockchain technologies will let logistics companies keep extremely accurate digital ledgers that are distributed among many end-points. If one copy of that ledger is lost, that won’t mean a death nail in the coffin of that business. They could easily replicate it and continue on. Think of blockchain as a super secure backup.
Blockchain technologies mean more than business security, though. Blockchain will allow for business expansion. Think of it this way, a mobile repair business could develop an app where it could hire displaced workers to perform work much in the same way Uber does. Instead of providing a tax service, an authorized repair person could pull up a list of potential jobs, claim it, and go do it. That transaction could be placed in the ledger in real time and then distributed amongst all of the other freelance repair persons.
Likewise, those freelance repair people don’t have to wait for potential jobs to show up on their app. Instead, they could market themselves, take on extra work, submit it, and have those gigs placed on that same ledger. This will let the business keep track of jobs in a much easier, more organized fashion. It’ll build the business and earn more income for that freelance repair person.
Of course, this is only one example that I’m shooting off the top of my head. The logistics industry has tons of room to get creative. The logistics industry could use blockchain technologies to transform itself from a just-in-time linear business to an asynchronous industry where logistics functions are performed in parallel jobs. That could revolutionize the industry!
One thing is definite. Blockchain technologies will revolutionize how logistics are performed. It’s going to grow the gig economy, and displaced workers will be able to use their skills in new ways to earn a good living.