Why is there a need to introduce new technologies?

In our view, one of the main reasons is that some companies are still very reluctant to develop. It causes serious problems when it comes to providing or retrieving data. The other major difficulty is distrust. Some participants in the chain continue to question the authenticity of some data and are concerned that their data could leak.

The question is: can blockchain technology bring a change? The simple answer is yes, although blockchain is not the Holy Grail and cannot solve all of the problems, but it can be a good solution to the problems mentioned. Whatever technological innovation we apply, it is essential to adjust the process to the possibilities and requirements of the technology.

What solution can e-track offer?

Primarily, we concentrate on eliminating the “noise” in the communication, i.e. the partners using the services of e-track can pass on the information through a reliable unified system. This makes it possible to integrate and reallocate the collected information among the partners concerned in an entirely noise-free and undistorted form.

We are convinced that the integration of blockchain technology into our services will further increase the efficiency and flexibility of the system. All the information entered into the system will be instantly available, further improving reliability and transparency. The system continues to guarantee, through encryption and strict authorization, that the participants can only have access to the data they are entitled to.

The advantages of blockchain technology:

• it insures online visibility of the shipment, the position and status (temperature, humidity, position, speed, expected time of arrival, etc.) of which is continuously updated during the whole process of delivery
• it simplifies or totally eradicates paper-based documentation
• integrates data in such a way that their veracity and authenticity is guaranteed all the way in a manner accepted by all, thus enhancing confidence
• it will make the Chain of Custody (CoC) more transparent, which can be a great step forward in collecting freight
• analysing the integrated data opens the way for increased prediction accuracy and detecting risks in time
• all partners have instant access to all information they are entitled to
• the distributed storage of data and their immutability increase information security
• consistent communication protocols accelerate integration and development
• the large amount of reliable information helps to develop artificial intelligence, thus making it possible to further automate many processes