Blockchain Enables Logistics Industry to Make Giant Leap Forward

Many would agree that the development of the logistics industry has reached its limits. The stumbling-stone is still the human factor. Human labor makes industry less reliable, more expensive and vulnerable when it comes to fraud and theft.

The giants in this industry have already discovered that only fearless innovations may inspire further growth. For instance, Amazon is implementing drones delivery very actively (it is yet only an internal service, but who know what it will become within a couple of years?). It is a proven fact: exploiting drones in cargo delivery allows businesses to cut costs, to make the process more efficient, and speed it up significantly.

The only problem with the transition to the unmanned logistics is the responsibilities issue. The drones require maintenance, they need to communicate in some way with the client and with each other. Various organizations need to keep control of what is happening with a drone during its life-cycle. How to define — or, rather, registrate — these responsibilities?

The SKYFChain project offers a solution. As a spin-off of the SKYF project (the first industrial heavy cargo drone), it provides the industry with a unique operational platform functioning on the blockchain. What does that mean exactly?

SKYFChain is a platform that would unite all the participants of the market. It provides a perfectly clear system of registration of all the processes occurring to a drone during its life-cycle. The system is equally accessible for businesses, financial, controlling and governmental institutions, and of course the robots themselves.

At the moment, all the processes in the branch are done by humans. On SKYFChain, it will be fully automated. The platform will allow following literally every event in a drone’s life as registered automatically: production, maintenance, application opportunities, routes, operations. Basically, this means running whole missions by unmanned vehicles right from a laptop — how amazing is that?

SKYFChain will allow to decrease the costs in the industry and reduce the risks it faces now. Operations will become more transparent, more safe, more efficient, and much quicker. This is exactly what businesses are waiting for. By the same token, authorities, insurance companies, and financial organizations are interested in SKYFChain to the same extent: the transition to it will make operations control much easier.

The pre-ICO of SKYFT tokens that began on the 1st of March has already reached the goal set. There is obviously much interest in the project and investors are ready to become the ambassadors of the SKYFChain and spread a word about it. This is not surprising: the appeal of blockchain is in the possibility to create decentralized and unchanged registers supported by many parties at a time, and this is exactly what the freight industry needs at the moment.

Since information on a blockchain platform cannot be hacked, damaged, or altered, the value of the information stored in the chain increases enormously.

Critics of the technology argue that blockchain can expect same crash that the dot-com industry experienced in 2000, however, SKYFChain CEO Alexander Timofeev offers a more sanguine opinion:

Many projects will collapse, simply because the market tends to clean itself. But the survivors of this possible crash will have the possibility to develop further and become even stronger. Everything we do for our product is in line with a long-term vision. We only work with sustainable technologies. I believe the blockchain is one of them. We will be a Google in our industry in the next ten years.

For more information about SKYFChain please visit skyfchain.io and download the project whitepaper.

How will blockchain technology impact current cargo logistics offerings? What are the most significant benefits that SKYFChain brings to the industry?

Images courtesy of SKYFChain