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However, since blockchain technology is still not widely adopted, there are many challenges to overcome before it can be successfully deployed at scale in the logistics industry. According to DHL’s research, “Likely the biggest challenge will be achieving successful industry adoption through collaboration and even coopetition co-opetition between diverse supply chain stakeholders that have legacy processes and varying interests.”
A Hyperledger Supply Chain SIG could help overcome these challenges and propose a way forward that is neutrally based, using the Hyperledger open-source blockchain framework. With blockchain, there is an opportunity to create a level of trust that enables multiple trading partners to collaborate more easily.
Since 2017 we have seen a number of interesting proofs of concept (POCs) and pilots deployed in this sector that are based on Hyperledger frameworks.
Blockchain can be used for asset management, to improve transparency and traceability, and to automate commercial processes with “smart contracts,” which facilitate and verify the performance of contracts without third parties. The potential for blockchain in supply chain is significant. However, moving from concepts and pilot applications to actually deploying viable solutions will require the technology to be further developed, organizational transformation and a willingness to collaborate between all stakeholders. Success depends on all parties working together to transform legacy processes and to jointly adopt new ways of creating value for this space.
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