There is no doubt that Blockchain’s strongest case is to be used for logistics and transportation. This is due to the commonly accepted view of blockchain; that it enables secure and transparent monitoring of transactions. At its core, logistics is a series of transactions that link a product from raw material through to consumer. Therefore, the characteristics of blockchain have the power to revolutionize modern supply chains.
The impact of this technology cannot be understated as it can transform the logistics and transport management industry, which generates approximately 13% of GDP globally. With the help of Blockchain, communications and border administration can be improved, which could generate an additional $1 trillion in global trade, according to the World Economic Forum.
Blockchain first grew in popularity as a technologically advanced method of transferring value. Now, the same underlying technology has the ability to profoundly change the way physical goods are transferred. While some companies have attempted to create blockchain solutions for modern logistical problems, no complete solution exists today. Current options revolve around expensive RFID chips or an overt reliance on consumer input. EndChain focuses on the entire logistics chain: from manufacturer to businesses to customer to reseller. The goal of EndChain is to become the blockchain solution that the logistics industry desperately needs by allowing one blockchain that is easy to use for all verticals of the supply chain.
EndChain’s aim is to disrupt the logistics industry through decentralization, open protocols and utilities. The goal is to connect producers, transportation companies, forwarders and other parties in easy to navigate transactions where trust is not an issue. This will lead to a seamless exchange of goods while increasing security, transparency and traceability.