Blockchain a link into the future of logistics
- Staff Writer
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Blockchain will be one of the key talking points at the Australian Road Transport Suppliers Association (ARTSA) Global Heavy Vehicle Leaders Summit in Melbourne on 8 May, run in conjuction with multimodal trade event, MEGATRANS2018.
The technology that was created for cryptocurrencies such as Bitcoin is being touted by industry leaders as a potential gamechanger for the transactional database–processes used in freight and logistics.
As cryptocurrency-based applications built on top of the blockchain become an increasing focus, industry leaders are looking to explore the agility new technologies such as blockchain bring to expanding business operations.
It is anticipated that this will be achieved by moving away from databases, to the edge of networks – more specifically a virtual network where information and transactions are stored by nodes, made transparent and secured by a sequential process across a public block. That block becomes the unique chain of record.
It’s a way of facilitating end-to-end commercial transactions without individual arrangements.
Chief Analytics Officer for FreightWaves and Blockchain in Trucking Alliance, Dean Croke, will be among the guest speakers. Disruption, he has claimed, will open the doors of innovation.
“It’s a revolution that will influence all transport and logistics firms, and fits very well with the theme of the conference,” he said.
The event will explore whether blockchain’s competencies in moving representational goods, such as cryptocurrencies – translate into the ability to move physical goods.
Other speakers confirmed for the event include DB Schenker Chief Information Officer, Charlie MacDonald, and Wettenhalls Transport CEO, Mike Lean, who will explain how his transport company is applying 21st-century technologies to its processes.