The IoT meets blockchain
The IoT will integrate into the blockchain, along with the highly beneficial feature of smart contracts, to improve our lives dramatically.
Lantah’s vision is to make these possibilities a reality for you.
Back when I started out in the business world, fragile electronic equipment was shipped in boxes that had an analog device attached to them. It looked much like the bubble tube you find in a leveler.
If the box was exposed to a heavy impact, the tube would be red in color indicating such an impact occurred and that the contents inside may have been compromised. The company purchasing from the manufacturer had the right to refuse that package because the shipping terms were violated.
This was an innovative idea at the time, but logistics have changed and are about to drastically change again. With the assistance of IoT and leveraging the blockchain, supply chain data is collected and shared in real time.
GPS data with information about the cargo on ships and trucks provides shippers with more precise details on the location and status of individual shipments. Streaming data can also be integrated that can affect shipping and delivery routes. Data about traffic and weather, even information from social media feeds can predict obstacles presented by events such as festivals or sports.
Armed with all this additional data, a supplying marketplace can better serve their customers by providing more accurate estimates of arrival times while providing solutions for perpetual pain points other centralized systems have yet to solve.
A smart system addresses everything from fraud and stolen goods, to unnecessary broker markup costs, poor communication between suppliers and shippers, and order fulfillment automation upon delivery.