Increasing globalisation means the proliferation of suppliers and channels used in the supply chains involved in producing products. Processes that once took place near by or at least in a manufacturer’s home country are being displaced or moved overseas, and manufacturers are faced with complications in ensuring traceability and transparency.
Current technology leaves gaps in product history
Often times, logistic companies operating under the same supply chain work with their own tracking systems, leaving gaps in the history of a product’s manufacture. Both the end consumer and the manufacturer are left not being able to trust the process that has occurred.
When Blockchain is paired with any GPS system, a seamless and secure record of a products whereabouts becomes possible.
Benefits of Blockchain-GPS partnership
A GPS linked to a Blockchain can be attached to a container or product. The coordinates of the item can be continuously written in to the Blockchain as transactions, documenting its journey chronologically and precisely.
When GPS and Blockchain are paired, not only is a permanent record created, but the consumer and manufacturer can check the location of their item at any time, creating transparency.
faizod has been at work examining how Blockchain can benefit logistic and industry and has successfully paired Blockchain with GPS technology. To read more about this new development, click here!