However, the logistics industry covers manufacturers, customers, suppliers, auditors, etc.
It has been reported that both companies have showcased a product that is capable of adding much more value to the parties involved than just streamlining operations and reducing costs in 3PL business models; and offers several business models to overcome the variety of logistics industry problems.
The new model begins with special, easy-to-produce and inexpensive programmable frequency sensors that are installed inside the shipping container. These sensors will be able to track the temperature inside the container along with other data and to store it in an immutable database, such as the Credits blockchain.
Igor Chugunov, the CEO of Credits.com, said:
“China is a thriving market of online purchased goods and the country is actively exploiting this segment. We have developed a lot of solutions that needed to be taken to improve a sector as diverse and immense as logistics in a country with a population of well over 2 billion.”Igor Chugunov
However, modern customers are increasingly asking for personalization, customization, security, improvements, and amenities in payment and delivery services.
The problems of lack of trust between the parties involved in product supply processes and the associated excessive costs that hinder the growth of the logistics industry and the purchasing power of both private and corporate buyers.
It has been analyzed that the Smart Payment Service based on the Alibaba Cloud and the Credits blockchain platform is one of the most advanced solutions for the logistics industry. This product, which is built on the Credits blockchain, provides secure transactions between the seller and the buyer through the express delivery service provided by logistics providers such as DHL.
Likewise, the combination of Credits blockchain smart contracts, Alibaba Cloud infrastructure and payment systems that provide APIs for free access, such as Alipay, has led to a convenient and user-friendly service that aims to revolutionize the logistics industry in China and all over the world.
Yuli Bai, the CEO of Lenovo New Vision, stated:
“Actually, there are a lot of aching problems in logistics right now. And blockchain offers the solution, it is the catalyst of global technology development today. Various operations can be easily reconfigured via Smart Contracts and Clouds, which is a great opportunity for customers to help themselves. Both customers and companies really get lots of benefits.”Yuli Bai
As such, the Chinese logistics industry’s reliance on technology and the startups capable of providing advanced management technologies, such as blockchain, AR, VR, AI, and IoT is increasingly growing.
Thus, the emergence and gradual introduction of these technologies are definitely the factors that will disrupt the current model of the logistics industry in China and Credits.com blockchain technology, which may provide the foundation needed for the adoption of such technologies.