Earlier part of this year has seen a rise in blockchain technology experimentation in various areas of industry. The block chain technology provides a safe and secure method of exchanging information over internet. Being a distributed system, it allows scalability and broader ownership.
Ethnews reported that Sixteen public and private sector companies based in the Netherlands join together to explore blockchain technology in the logistics sector. The Netherlands is experimenting with the blockchain through a 16-partner consortium. Led by TKI Dinalog, a Dutch Institute for Advanced Logistics, this consortium is looking to explore how distributed ledger technology can advance operations to bolster efficiency and effectiveness, and reduce supply chain footprints.
Partners on this project include TU Delft, Windesheim, the SCF Community, TNO, Centric, Exact, ABN AMRO, SmartPort, Royal FloraHolland, the Port of Rotterdam, FBBasic & Cirmar, BeScope Solutions, NBK, Innopay, and TransFollow. This project is complementary to the public-private initiative to establish a national research institute for Blockchain (working title: Blockchain Core Competence Center), initiated by the Ministry of Economic Affairs.
The consortium will be funded development of use cases in Blockchain Technology. In the start the focus is more on proving the technology use for chain financing, supply financing, and circular economics. Further Ethnews reported, Martijn Siebrand, Supply Chain Finance Programme Manager, sees potential with blockchain experimentation, saying “If you ask me, using blockchain technology for the financial routes in logistics is just the beginning. I see this as a stepping stone towards a logistics sector with improved collaboration throughout the entire chain.”
While there is a broad consensus on blockchain technology usefulness but still the industry is waiting to adopt it with care. Cryptocurrency being one of the most successful use cases is already being explored by financial institutions and also given validity by some merchants and regulatory bodies.
So, what are next steps?
Probyto has developed use cases using Blockchain technology in smart contracting. We can help business understand the technology and discuss on potential use cases for you.