A Digital Transformation in International Transport and Logistics

Abstract

Firms must deal with the factors that increase performance, which support the delivery of the produced goods at minimal cost and time. In this respect, the advantages of digitization have been studied. The path to international trade in its quest to reduce logistics and supply chain costs cross with Blockchain technology. Blockchain technology isn't only an inter-user money transfer technology, but it also includes all the trade supply chain actors. Thus, a visible “supply chain network” that's directed by blockchain, which holds the record in real time and doesn't change pursuant to the sequence occurs. All actors on the network can access and track the flow and distribution of the transaction across borders. How does blockchain technology improve yield and reduce costs? To find the answer, the application areas of digital technology in trade have been investigated. In international trade, a transaction draft was created and the advantages and disadvantages of blockchain were exposed.