Antonio Tejeda Encinas, CEO Europe Meta Channel Corp
Below, we will describe four applications in the transportation industry:
1. Payment Transformation and Dispute Resolution: The blockchain can revolutionize payments in transportation by enabling secure and transparent transactions. Smart contracts would automate payment arrangements, streamlining the process and reducing conflicts. In addition, by storing information immutably in a shared record, dispute resolutions would be more efficient.
2. Digitization of Documents and Processes: The adoption of blockchain to digitize documents and processes could reduce bureaucracy and improve efficiency. A notable example is a Spanish initiative backed by Foro MADCargo and ALACAT, which combines blockchain and artificial intelligence to save paper and time on export paperwork.
3. Temperature Control in the Transport of Sensitive Cargo: Blockchain could address problems in the transport of products that require temperature control, such as medicines. The combination of IoT and blockchain sensors allows constant monitoring of temperature conditions, ensuring compliance with requirements and minimizing losses.
4. Reliable Cargo Tracking: Blockchain improves the reliability of load boards by providing unalterable records with verified timestamps, reducing errors in load allocation. One example is the Geotrack project, which uses “geoblockchain” to improve logistics in the transport of goods.
However, the implementation of blockchain in transportation faces challenges, such as network scalability and interoperability.
