Smart Contracts in Logistics Industry

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Smart Contracts in Logistics Industry
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Smart contracts Logistics

• According to a survey conducted by Forbes, 65 of
  the executives focussed on transportation believe
  that the logistics industry will experience a
  tectonic shift from traditional methods to better
• Well, those days are not far when blockchain
  technology will revamp the entire supply chain
  and transportation industries. One may usually
  relate blockchain with Bitcoin or other
  cryptocurrencies.
• But, there is more to the technologies affiliated
  to the blockchain and this includes Ethereum
  Smart Contracts. So, how will smart contracts be
  a boon for the logistics industry? Let us take a
  look.
• Smart contracts are highly efficient in
  performance and adept at quickening and
  simplifying the functions and processes of the
  logistics industry.
• Moreover, implementing them in the supply chain
  industry will give a clear picture of how they
  are beneficial for this field.

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Transparency and Clarity Of Agreement Terms

• As it is based on blockchain, the code of smart
  contracts is transparent. Everything ranging from
  the terms and conditions to obligations is coded
  in such a way that all the parties on the network
  can view the transactions without any confusion
  or discrepancy whatsoever.

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Trustworthiness and Reliability

• Smart contracts are inherently immutable. This
  makes them reliable as nobody across the whole
  supply chain can alter the terms of the contract.
  Even if some of the members leave the network,
  there is no threat of a data leak and it will
  continue to function with the same efficiency.

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Protection against frauds and Guarantee of
payments

• The most important advantage of blockchain is
  decentralization. That is why no single
  individual can control the blockchain or smart
  contract.
• Also, nobody can release any data or funds
  without the prior consent of the members on the
  blockchain.
• If anyone tries to attempt such an act, they will
  be noticed and blacklisted. Besides, logistics
  companies are assured to get paid if they have
  provided services to their clients proficiently.

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Elimination Of Third Party Intermediaries

• Traditional supply chains are filled with
  middlemen and third-party intermediaries.
• Smart contracts will help in getting rid of them
  and eventually reduce the unwanted costs across
  the chain.
• With smart contracts, freight operators, shippers
  etc. will be able to deal with one another
  directly. This will, in turn, make the whole
  process smoother and faster.
• Smart contracts have the immense potential to
  revolutionize the logistics industry. But, you
  must make sure to tie up with the best companies
  to get the best blockchain services.
• Blockchain App Factory is a leading company with
  much experience in blockchain smart contract
  development. Keep your woes away and get in touch
  with us to enjoy our readymade solutions.

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Touch with Blockchain App Factory
Mail info_at_blockchainappfactory.com Web
https//www.blockchainappfactory.com/smart-contrac
t-development Mobile [phone]