Blockchain technology is all the rage these days, with a multitude of enterprise-level companies seeking out solutions through innovation. A recent press release from BASF, the German chemical company, offers a new and interesting application of blockchain in creating and maintaining supply chains.
The company has sought solutions to deliveries that are either incomplete or damaged. Together with startup Quantoz, BASF is creating smart pallets that inform distributors about location and movement, as well as loading status and impact. The goal is to mitigate loss and unexpected damage to shipments.
By using blockchain technology, the company can make certain to protect the integrity and security of the data. According to the press release:
This combination provides an outlook for a secure and transparent material and data flow in the future.