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Waves, the application of blockchian in smart logistics

Logistics is an important foundation of the Internet economy. With the advancement of global Internet, the development speed of the logistics industry is getting faster and faster. At present, it has entered the era of intelligent logistics, especially in recent years, the application of blockchain technology in the logistics industry has promoted this process. Israeli startup wave is using blockchain technology to set off a digital revolution in the transportation industry,


which will be no less than the blockchain's revolution in the banking and financial industry ( ripple (xrp) is the representative of the this revolution). For marine transportation, since the era of the great navigation of the 17th century, the improvement of shipbuilding technology and the invention of containers have increased the throughput, efficiency, and capacity of the marine transportation, but the transaction methods and transportation processes have not changed much. The bills of lading was generally sent by mail and was inefficient. Nowadays, the network technology is advanced, if it is only the transaction between the consignee and the buyer, then the bill of lading is sent via e-mail, and the consignee can instantly receive and accept the bill of lading and print it out. However, if trade and transportation involve multiple parties in multiple countries, this would require going through banks, insurance companies, government customs and other departments.


The more people involved, the easier it is to have problems. Due to information asymmetry, confusion and fraud are likely to occur during the transaction, resulting in losses. So blockchain technology emerged and applied to logistics to solve these problems. In waves blockchain transport system, distributed ledger technology has irrevocable features. All order payment and contract documents must be agreed by all parties to be modified. Therefore, the blockchain technology can eliminate the trust problem in the marine transportation. The bill of lading sent through the wave's blockchain solution eliminates all security and data concerns, and solves one of the weakness of marine transportation. The distributed network connecting all transporters, banks, freight forwarders, traders, and other entities in the international trade supply chain is transmitted via point-to-point.

There

is

no

so-called

centralized

organization, which eliminates the delays and mistrust


caused by the central agency. In addition, due to the distributed nature of the wave network, the entire logistics system as a result of the failure of the previous center organization will not appear. In short. Wave's blockchain logistics solution will transform the marine transportation industry in many ways. As the importance of logistics in global trade, the market prospects of waves are immeasurable, so I’m really optimistic about it and I believe waves coin is worth holding fro the long term.

Waves, the application of blockchian in smart logistics  

Logistics is an important foundation of the Internet economy. With the advancement of global Internet, the development speed of the logistic...

Waves, the application of blockchian in smart logistics  

Logistics is an important foundation of the Internet economy. With the advancement of global Internet, the development speed of the logistic...

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