A Swedish magazine made a publication about blockchain for logistics. The article also talks about the developments of the FCE group.
Swedish magazine "Transport och Logistik"
("Transport and Logistics") told about FCE technologies and quoted the CEO of FCE Group, Gregory Arzumanian. The article about blockchain for logistics
explains the development and potential of the new technology. The author believes that blockchain will satisfy the need of customers for transparency and security.
Below is a quotation from Susanne Ringheim Kilje for our English-speaking readers.
“Through the blockchain, you can determine the goods, location, and timing, and who participated in the transportation. When an operation in the supply chain is complete, an event is added to the blockchain by the person responsible for that particular action. Products, documents, and people are verified using personal fingerprints in the chain.
The blockchain itself is a secure way to store data. What matters is the benefits of the technology. In our case, this means that we can be completely digital, even internationally. It provides the tracking incidents and tracing advantage with time stamping. Blockchain ensures that no one has manipulated documents.
“I see it as a security technology,” says Gregory Arzumanian, the founder, and CEO of FCE Group AG.
Blockchain is ideal for storing data. However, Gregory says that this fact alone does not guarantee the quality of the data collected. Based on the quality aspect, FCE has built a Cloud Platform where a network of IoT sensors collect and distribute data in the company's cloud solution
to improve the productivity and usability of the FCE blockchain
Here, every step is recorded and verified. Every transaction in the chain can be viewed around the clock through the online platform.
"In our blockchain, information is stored up to what soil a separate product was grown. The endpoint is how the surplus is taken care of. For example, if it has been composted. All the information in the entire chain can be read with the help of the QR code
. The code contains information about the origin of the product, ingredients, history. suppliers, carriers, retailers, end-consumers, and more," says Gregory.
Digitization can create value for the entire supply chain and provide visible and direct access to all market participants.
"It completely excludes counterfeiting and fraud. It increases transparency and security, as well as increases trust," Gregory says. “
The article also gives examples of the use of blockchain and statistics, which predict that the use of blockchain in the financial sector in the next three years will increase dramatically