Europort Masterclass: How the Internet of Things and blockchain can improve supply chain efficiency

25.09.2017

Maritieme toeleveranciers, Scheepsbouw

Europort 2017 will once again feature a series of masterclasses allowing leading maritime and offshore professionals and experts to share knowledge and experiences on the hot topics facing ship owners, operators and suppliers. On November 7th the first Europort Masterclass will be organised about the Internet of Things (IoT) and blockchain.

The IoT and blockchain are emerging new technologies in the logistics context that will become mainstream within the next 5 to 10 years, according to research organization, Gartner. Most people are familiar with IoT for smart applications in the living room, but less is known about the tremendous improvements IoT can lead to within the supply chain.

Blockchain technology makes it possible to accumulate generated data in a decentralized database and create a distributed ledger that keeps records of digital transactions. Data in the blockchain is unchangeable and digitally recorded in packages (called blocks). Blockchains are formed by blocks that are chained to other blocks, using a cryptographic signature. They are visible to anyone within a network with the appropriate permissions. This technology will have a major impact on supply chains, potentially reducing delays and making the need for intermediaries obsolete.

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