Smart Containers Are Set To Change The Game
At the moment, nearly 20 million of shipping containers moving around the globe, carrying goods worth in trillions of dollars annually – and this accounts as high as 90% of the global trade. With that numbers in mind, doesn’t it make sense to have a breakthrough and assurance in shipping and logistics? That’s where smart containers come in play.
The deciding factor mainly because the containers itself is the core of the freight industry – you need those big boxes to carry a whole lot of goods around, and no good ‘ol cardboard boxes can withstand the temperature, weather, pressure while securing the quality of your goods, sometime as long as months.
Hence, we’re looking and reexamine the steel boxes from a different perspective.
What Is a Smart Container?
Basically, a smart container is an upgraded version of your regular shipping containers. Developed and provided by Smart Containers Group – the aim is to create a fully automated operation using a blockchain-based tech, and it tracks and monitor the containers. This in turn creates a more efficient supply chain management and at minimal cost.
In a way, this creates a paperless environment, as the whole business is done in blockchain.
How Does a Smart Container Work?
All physical logistics units are reflected as virtual chips (available in certain fee) in the blockchain infrastucture, with certain descriptions and attributes connected to the said chips, and including the documents used, they’re available to parties involved in the whlole transaction (suppliers, buyers, warehouses, freight forwarders etc).
The process can be seen as a way to produce a lot of cost in various aspects such as transportation, CO2 emissions and potential delays.
How Does Smart Containers Will Benefit To The Parties Involved?
Transparency is paramount, as the information will be made available to the parties involved and they get the latest, instant information until the transaction ends. The knowledge will make other parties able to make better decisions in the future.
Security is assured, and any fraud attempts can be stopped easily.
While some might argue that the tech is rather expensive to integrate, one can say that when it comes to sending of goods worth thousands of dollars, smart containers are the best option for security and assurance, as well as making the whole communication issue among the parties involved a lot easier – the information and latest updates is already there.
Thoughts on this new tech? Would it bring a positive change to our supply chain’s efficiency?
