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Home » UPS Wants to Set Blockchain Standards for Freight Industry

UPS Wants to Set Blockchain Standards for Freight Industry

November 14, 2017
Air Cargo World

Before blockchain becomes a standard industry tool, the logistics industry will have to adopt standards and protocols to enable blockchain platforms to operate together with established technologies, the integrator said. Also, those standards and protocols need to be agreed on and implemented across the board or else companies’ computers won’t be able to talk to each other.

“Blockchain has multiple applications in the logistics industry, especially related to supply chains, insurance, payments, audits and customs brokerage,” said Linda Weakland, UPS director of enterprise architecture and innovation. “The technology has the potential to increase transparency and efficiency among shippers, carriers, brokers, consumers, vendors and other supply-chain stakeholders.”

UPS said it is exploring blockchain applications in its customs brokerage business, which will help simplify the task of digitalizing airfreight transactions.

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KEYWORDS Business Strategy Alignment Freight Forwarding/Customs Brokerage Global Logistics Global Supply Chain Management Global Trade Management High-Tech/Electronics Inventory Planning/ Optimization Logistics Logistics Outsourcing SC Finance & Revenue Management SC Planning & Optimization SC Security & Risk Mgmt Technology Transportation & Distribution Transportation Management
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