Enterprise Blockchain Use Cases - Transportation and Logistics Industry

Enterprises from the Insurance Industry are demonstrating strong confidence in the blockchain technology. Currently, these enterprises are testing this technology for more than 10 different use cases, some of which include, trade finance, reporting and compliance, supply chain traceability, provenance, marine insurance, and paperless trade, among others.

There are more than 100 enterprise blockchain projects underway across the globe. The projects are distributed in to categories – one where transportation and logistics firms have taken the initiative to test this technology themselves, and second where the projects are initiated by other industry players (their customers). 

The adoption of this technology within the transportation and logistics industry is well-spread across various geographic regions – Europe, Americas, Asia, and Rest of the world. Europe takes the lead when it comes to regional dominance, whereas United States leads the list of countries with maximum projects.

These projects are being executed by a mix of large system integrators, specialist blockchain vendors, consulting companies and in-house research teams at insurance companies. There is no clear template for engaging blockchain vendors yet, and different enterprises are using different combinations of Blockchain-as-a-Service (BaaS) providers, customized application developers, distributed application platforms (dApps), and inhouse IT teams.

More than 250 enterprises, government organizations, and regulators have come forward to test this new technology. Some of the key industry stakeholders involved in these projects include transportation and logistics providers, banks, insurance companies, regulators, customs departments, trade promotion organizations, and corporate clients of logistics companies from various sectors.

These enterprise blockchain projects are helmed by senior executives that include a combination of business and technology decision-makers from enterprises as well as technology and consulting solution providers. Some of these executives include CEOs and Deputy CEOs, EVPs, CFOs, CIOs, Chief Digital Officers,  Managing Directors, Presidents, and Consulting Partners, among others.

The urgency for blockchain adoption, within the transportation and logistics industry can also be underlined by the fact that nine industry consortia have already been formed by industry participants, which also includes regulators. The formation of consortia will lead to faster and wider implementation of the use cases.