Blockchain technology is being hailed, by many, as a digital panacea that has already made a huge impact across sectors such as finance. The broad number of ways in which blockchain can be utilised.
Changing or adding information to the “chain” requires the authentication of everyone who is in the network and this means that blockchain is extremely secure
However, is still being explored and the logistics sector is one area that is looking to exploit its power. Here we examine the fundamental principles behind blockchain and ask how is blockchain technology revolutionising the logistics sector.
Blockchain is basically a digital ledger that is shared by a network of individuals around the world and that came about from work carried out in the mathematical discipline of cryptology. That is to say, the information stored in the blockchain is encrypted.