The CEO of ShipChain, John Monarch, has recently stated that the issues that ShipChain was trying to solve in the logistics industry and how the market could easily be boosted by using the services that are presently being accessible by the company.
According to the CEO, there are many solutions that can be made by applying the blockchain on logistics.
With the blockchain technology procedures like price increases, bad handoffs and managerial issues can be easily solved without any middleman. Monarch explains that the people involved in the industry have many imbalanced incentives and this usually results in poor data handling during the phases of the logistics process.
ShipChain Solves The Issue
ShipChain utilizes blockchain technology to solve some of the major issues that are currently facing the freight and logistics industry.
As per John Monarch, the solution is very simple by cutting the middleman to decrease costs and problems. ShipChain solves every issue by creating a single source of truth that helps to handle the transactions and logistics of the product.
With the help of Ethereum network, the package can easily track the goods and everyone has to be knowledgeable to keep correct records of each and everything that is happening. ShipChain has the capacity to eliminate the brokers and replace them with technology. This decreases the costs and lets transporters to find shipments easier.
Shippers will have a huge increase in their profits and will be able to sell their products for lower prices. This can increase the profitability and the efficiency of the industry.
As per the news published in Bitcoin Exchange Guide, it looks like ShipChain has a bright future ahead of itself. The smaller, as well as larger companies, might be able to finally overcome brokers fees and lack of efficiency due to blockchain technology.
The post ShipChain CEO, John Monarch, Sets Solutions To Apply Blockchain On Logistics appeared first on OWLT Market.
https://ift.tt/eA8V8J
No comments:
Post a Comment