Use cases in logistics

We have identified several use cases that support companies as they strive to increase speed, improve traceability and reduce costs.

Provenance

In logistics, provenance refers to a timeline of changes in the ownership, custody or location of an object. It could be described as an audit trail and aims to make sure every shipped goods has a digital “passport” that proves its authenticity. These passports include data about where and when the product was made, as well as the route it has travelled.

Blockchain can be applied for provenance to prevent fraudulent transactions. (e.g. wine) Provenance makes it possible to trace the location of a winery that produced the wine, while also listing all participants – such as regulators, distributors or retailers. This addresses the flow of counterfeits, while also lowering costs and eliminating duplicated tasks. It also enables customers to obtain information about the origin of the product.

Payments and invoicing

Invoicing and payments related to logistics functions often involve manual and paper-based processes because the companies involved each keep separate records. Matching invoices with payments due or credited is a time consuming task for companies. Blockchain can store and share digitized records, while also creating smart contracts that automatically handle invoices and payments to shorten processing times and ensure accuracy.

A NFT digital slip can automatically transmit a confirmation of the delivery time or condition of the goods. The blockchain system then automatically verifies the delivery and makes any appropriate payments. This significantly increases efficiency and trust.

sConnect (Shypr Connect) will be platform for tracking and tracing shipments, and provides a solution based on smart contracts that can be used for making payments. It offers an open API that can be integrated with freight management software, as well as features that allow users to store information like geo waypoints.

Digital documentation

Blockchain can enable intelligent logistics contracts. This is possible when digitized documents (bill of lading, certificates, invoices, etc) and real-time shipment data are embedded into blockchain-based systems.

ShyprConnect

sConnect platform will digitize open account transactions by leveraging blockchain as trustworthy. Digitizing trade documents and automating processes, it improves efficiency, reduces risks and facilitates finance. The benefits include: lower costs and fewer paper-based processes, faster processes for obtaining working capital from banks, facilitating trade financing applications for open account trades.

sConnect identity management

sConnect will utilize blockchain identity management secure solution that protects people’s identities against injury or theft. It uses a distributed trust model to ensure privacy where identity documents are secured, verified and validated by authorized participants.

Blockchain-based identity management offers the possibility to manage access rights for companies to input information about pick-up and delivery of goods.

In addition, third party providers in Know Your Customer / Anti Money Laundering processes, last mile deliveries or driving licensees of truck drivers can be verified by using blockchain identity management.

ShyprExpress marketplace

Blockchain enables smooth and integrated communication across complex supply chains. In this way, it improves trust, security and speed. It can even be used to create platforms where logistics service providers offer free capacity in trucks or ships in real time.

ShyprExpress will be an interactive marketplace that enables logistics companies to share availability in real time. It offers full traceability, as well as a payment solution, transport management system and a hub for managing consignments via web and mobile applications. With ShyprExpress, the efficiency between partners can be improved and transactional costs can be reduced.