Web3 Technical Guide: What has Web3 changed in the logistics industry?
In the logistics industry, Web3 has created a decentralized ecosystem that allows numerous direct or indirect stakeholders to track prices, dates, actual time locations and shipment status without barriers. Web3 sharing data based on decentralization technology has improved the transparency of the logistics department ecosystem and the overall traceability of goods. This article will deeply discuss how Web3 technology innovates the logistics industry.
1. Effectively track the movement of goods
The integration of Web3 technology in the logistics field enables us to directly track goods from warehouse to customer. The decentralized way of information sharing makes it too simple for all interested parties to track the flow of goods in real time. In addition, when blockchain technology is used to store data related to shipping, the demand for logistics companies decreases. Therefore, there is no pressure associated with manipulating or tampering with data.
2. Allows enterprises to move forward with planned/scheduled deliveries
Blockchain technology Web3 improves the way of cargo tracking and real-time data analysis. It enables enterprises of all forms to develop to the ready delivery mode. Planned delivery is the best way to allow enterprises to simplify the entire manufacturing process and all other interrelated processes to improve the level of efficiency. With the integration of Web3 technology in business, all business personnel can choose to deliver on the same day or two days.
3. Reduce overloaded paperwork
Enterprises involved in coordination operations can easily understand how difficult it is to maintain proper paperwork for shipping. Maintaining freight records will generate a lot of unnecessary paperwork, including invoices, receipts, payment records, etc.
Thank logistics companies for using blockchain smart contracts to reduce paperwork and automate the payment process. Each blockchain based smart contract can eliminate the participation of third parties in transportation, reduce processing time, make timely payments, and manage data in the most appropriate way.
4. Track the efficiency of partner logistics companies
Web3 is the most advanced technology, enabling enterprises to use real-time data to track the efficiency of partner logistics companies. With the help of this technology, business personnel can not only track the delivery efficiency of logistics partner companies, but also track specific vehicles in the fleet. In addition, this kind of data analysis can help enterprises to find the main or secondary defects in the system and improve the efficiency level of the entire supply chain.
5. Create a transparent ecosystem
The integration of Web3 technology in the logistics field is conducive to establishing a transparent ecosystem for all buyers, sellers and suppliers. In this way, all interested parties can obtain important and accurate information about the origin, real-time location and expected delivery date of products. This kind of real-time data can help businessmen simplify the interconnected business processes and improve the overall efficiency of business processes.
Web3 offers great potential to improve the productivity of the entire logistics and supply chain planning phase, including trade financing, and helps resolve conflicts in the logistics sector. Smart contracts can be enabled using digital protocols and real-time transport data integrated into web3 based platforms. Once predetermined conditions are met, these contracts can automate business activities.