Our environment is constantly changing, evolving, and challenging the status quo. If you look at the future from a 'future-is-now' perspective, powerful trends can shape and reshape lives, drive new technologies and change business and people behavior. Industries must keep up with the latest trends and adapt accordingly.
In the past decade, technological advances in robotics and artificial intelligence, augmented virtual realities, blockchain, and artificial intelligence have been made. These tools and technologies are not futuristic concepts. They are being used in multiple industries.
Blockchain: Beyond the future of data security
Let's take blockchain as an example. When first discovered, blockchain technology can be seen as the future in data transfer. Blockchain is actually already making a significant impact on our daily lives. Consumers are demanding more transparency about the products they buy.
Ever wonder if the Fair Trade logo printed on the coffee jar or chocolate bars you bought is genuine? Every piece of information, from the precise GPS coordinates for the cacao tree to the manufacturing facility, logistics provider, and retailer, can be digitized using blockchain. The encrypted data is then stored in a trusted source. Blockchain information can be used to verify the authenticity, sustainability, and ethical sourcing of the product a customer has purchased.
The future is dynamic, experimental, and sustainable.
Future technology's success depends on its ability to be dynamic, experimental, and durable. Blockchain meets all three criteria. Simply put, Blockchain is the Future.
Industries must be able to adapt to technological and environmental changes in order to remain dynamic. Dynamic means to be a force for change that motivates, affects development, or challenges existing states. Blockchain is a way to match this approach. It takes information that is already in multiple places and makes it secure. But, blockchain also allows anyone along with the supply chain access to the information, even the consumer. Blockchain's dynamic nature is evident in the daily discovery of new applications and their potential to solve real-world problems. A wide variety of applications are being explored, including improving disaster relief efficiency and consumer service quality. The global logistics and supply chain market for blockchain is expected to reach $3.3 billion in 2026. Blockchain works well with other emerging technologies to provide users with more insight. It is also more efficient and impactful when used in conjunction with them. Blockchain's simplicity allows companies to explore its potential uses. This allows for new business models to be created and can improve the efficiency of processes within an organization. Life-saving medicines and emergency medical supplies such as the COVID-19 vaccine often require specific requirements in terms of temperature or shelf life. Integrating blockchain and IoT will increase the reliability and traceability of critical medical shipments across the supply chain.
Blockchain and disruptive technologies like it are the future.
Technologies must be innovative, sustainable, and dynamic in order to be successful. For any technology to be successful, it must have real-world applications. Blockchain is an example of a disruptive technology that is already in use today, and which will benefit both consumers as well as industries. The logistics industry is prepared to respond.