There are over 17 million shipping containers in the world, of which five to six million are currently being transported on oceans, rails and roads. In the shipping process, inconsistent information and limited transparency across organizational boundaries can sometimes hinder the efficient movement of goods. These costly inefficiencies can be eliminated by blockchain supply chain solutions. Estimates say trade document processing and administration currently add a staggering 20 percent to the physical cost of shipping a single container. With more than $4 trillion in goods shipped each year, blockchain supply chain solutions such as BC2050 Metachain could reshape the shipping industry — if not every other industry connected to it.
Provenance, authentication, verification, traceability and transparency are some of the most important foundations of logistics. BC2050 Metachain optimizes business transactions and trading relationships with robustly secure business networks on blockchain—both at scale and globally. BC2050 Metachain offers a shared ledger that is updated and validated in real time with each network participant. It enables equal visibility of activities and reveals where an asset is at any point in time, who owns it and what condition it’s in. Benefits of using BC2050 Metachain in the supply chain are: compliance and legal monitoring optimization, reduce and eliminate fraud and errors, improve inventory management, minimize logistic costs, reduce paperwork delays, increase partner trust, counter counterfeit / falsified products (medicines, food, textile, electronics, chemicals etc) Additionally smart labelling and real time monitoring on a product level can be integrated in the whole chain to increase security.
BC2050 Metachain transforms the traditional decentralized supply chain model into a new, distributed end-to-end digital ecosystem — one in which all parties can conduct real-time shipment transactions with each other as part of a trusted, immutable, seamless and fully transparent network.