Trillion-Dollar Shipping Industry Betting Big On Blockchain - Seite 2

"The acquisition of Chainlinks allows AXS Blockchain to dive deep in the trillion dollar logistics industry. With the advent of blockchain, AI cognitive search and smart contracts there is a great opportunity to simplify, streamline and create transparency in the supply chain. Utilizing a mix of these technologies in a revolutionary eco-system can solve real-time tracking and tracing issues, live escalation updates to mitigate downtime and simpler payment settlements to name a few," commented AXS Blockchain CEO, Mo Ahmad.

For freight brokers, 1Shift can provide instant solutions for major issues such as cargo protection and delivery efficiency within both the logistics and transportation industries. By providing all parties involved with a single customized dashboard for tracking freight payment, rates, financial metrics, and budgeting, 1Shift will increase shipping reliability and visibility in order to maintain intermediary relationships.   

Descartes Systems Group Inc (TSX:DSG) (NASDAQ:DSGX) is another company that provides a logistics software-as-a-service solution aimed at improving the efficiency, operational performance, and security of logistics-intensive businesses. With a current stock price of $44.34 CAD and a market cap of $3.4 billion, it is plausible that investors believe in the power of blockchain technology.

Identifying Industry Issues

Global cargo theft is estimated to cost $60 billion USD per year. The United States is said to lose nearly $35 billion alone. These losses hurt businesses and cost consumers, offering a unique opportunity for blockchain-based solutions to recover a massive amount of profit. The North American trucking industry is also a very fragmented marketplace. There are over 500,000 trucking companies in operation across the continent, each of which must conform to a complex initial vetting process. These companies lack the appropriate tracking tools to monitor their shipments, exacerbating an inefficient system.

Lost, late, and damaged goods are a common problem in the shipping industry. These issues are often discovered after it is too late, creating a loss for both shippers are manufacturers. Many of these issues could be solved by the automation and security provided by blockchain-based logistics systems. By reducing the need for human input, blockchain technology can provide a seamless solution to many of these easily-automated issues.