Norma M Krayem is a Senior Policy Advisor in our
Washington DC office.
Blockchain technology is most well-known for its use with
cryptocurrencies, however, it has wider potential applications in
other sectors beyond that of banking and financial services. It is
being evaluated for uses in the transportation sector which has
potential benefits ranging from more efficient business
transactions to increased tracking capabilities for cargo across
all modes: maritime, trucking, aviation and freight rail. Trade
partners may also see great value in the use of blockchain within
the broader global supply chain as well.
Transportation executives are looking at the advantages
associated with blockchain and distributed ledger technology in a
number of areas. In supply chain development, improved production
and capital flow tracking could facilitate the accuracy with which
manufacturers can distribute their products and create efficiencies
with transportation providers.
