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Applicability Of Blockchain Technology In The Global Logistics Systems

Table 4: Potential benefits of the application of Blockchain technology in global logistics systems (adapted from Badzar, 2016)

Relative advantage Reduced cost of transactionsCustomers have the benefit of being able to assess the product or supplier beforeCentralized governmental institutions are eliminated from the chainParties have the decision of purchasing sustainable products and transportsUnrestricted access to data regarding activities within the supply chain
Compatibility Furnishes customers with data regarding the origin of the product and freight courseTransactions are easily performed by utilizing hashes rather than physical documentsThe risk of fraud or fake goods is lessenedTracing, tracking, and recycling of the product lifecycle is enhancedAllows monitoring, tracking, and tracing of transports
Complexity Ease of use; register as a user and access the networkEfficient usage of QR-codes, RFID, NFC-tags, WiFi or iBeaconsMultiple platforms to access both private and public dataA network-based platform with the function of exchanging tangible and intangible resources
Trialability Active participation is not mandatoryThe user can regulate the degree of participation and data exchanged
Observability Gradual increase of Blockchain start-ups and active platformsStreamlines payment systems and the exchange of goods and services
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