Luis Mateos, blockchain expert at PA Consulting in Mexico, is quoted in Expansión’s CEO Magazine discussing blockchain and how it is being used in the logistics industry.
The article notes that bitcoin has been top of mind because of the stratospheric prices it reached. Its popularity also led different industries to see the appeal of the technology behind cryptocurrency: blockchain. One of them was the logistics industry.
In logistics, blockchain means total transparency. Automation is another great plus for an industry where paper processes and printed manuals complicate tracking shipments. Blockchain enables the creation of automatic contracts and terms that can be inserted in the network as code.
Yet, for this to work, all players must share their data.
Luis pointed out that the energy consumption of computers will also prove to be a challenge because of the computing and electric power needed for every node to process and validate all transactions.
A global movement towards increased data privacy is changing the way companies do business. Are you ready for the new era of data privacy?