Blockchain technologies the future of logistics

Abstract

New technologies have an increasing, direct and indirect, impact on logistics within the framework of logistic processes, implying by this the constant evolution of logistics and future challenges. To phenomena that influence the transformation of logistics, can be classified the ones connected with the economic development in the world and Era of Digitalization, combined with the Fourth Technological Revolution, which cause transformations in the extent of cooperation between enterprises and controlling the processes in the supply chain, both on enterprises’ and sectors’ scale. The blockchain is placed on the list of ten technologies, that have the biggest potential to change the face of business, work style, values hierarchy. The aim of this article is to present the blockchain technology, that may have a revolutionary importance in logistics. It can fasten and ease many logistic processes providing them with the common, undeniable source of information, ensuring the new level of transparency and safety in the supply chain. It lays the foundation for creating logistics based on the Internet of Things (IoT), cloud computing and artificial intelligence (AI), including smart contracts. The article points out phenomena that generate challenges for the logistics, and describes what the blockchain is and why is it worth to benefit from it referring to its features, pros and cons. Given practical examples concerns the usage of discussed technology in logistics.