Blockchain technology has the potential to significantly improve supply chains. This is what German logistics managers believe. According to a Hermes survey, more than a third of participants in the supply chain in Germany believe that distributed ledger technology can improve the cooperation in the industry. The survey was published a few days ago.
German Logistics Managers See Potential in Blockchain Technology
According to this survey, 35% percent of respondents recognized the future potential of blockchain technology. At the same time, 33% of those surveyed by Hermes said that big data is also important.
More than half of those answering the survey said that Cyber-Physical Systems are important. Participants have also mentioned that Enterprise Resource Planning systems are also important (46%). 44% has also said that sensors monitoring and data acquisition systems play an essential role.
The survey shows that the larger the companies, the more importance they give to these fast-growing technologies. Most of the respondents believe that blockchain technology can enhance data security in the collaboration process. At the same time, a third of logistic managers working in small companies expect distributed ledger technology (DLT) to have a positive effect on security.
Nevertheless, not all the managers working in these companies know about blockchain technology. In big companies, 42% of the managers make some research related to the technology. With this knowledge, they are able to make informed decisions regarding this disrupting technology. In small companies, the number is much smaller. Only 21% of the surveyed managers have studied or made a research about DLT.
The logistics industry could be potentiated by using blockchain technology. Companies around the world would see bureaucracy reduced and different processes improved. Time and security would also be enhanced with distributed ledger technology.
There are already some companies implementing blockchain solutions. For example, IBM has been working with Maersk in order to create a blockchain-based trade platform. According to Reuters, as of August, 94 organizations have joined the initiative. With this partnership, it would be possible to boost efficiency and reduce paper trail.
Carlos is an international relations’ analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.
