The project improved efficiency in different supply chains by 35 %.
ChainGo Tech, the Spanish technological company, announced the creation of a system that will use blockchain technology to improve and facilitate management and administration processes in supply chains.
The objective of this company starts with simplifying internal processes, improving the traceability of the documents involved, and allowing the exchange of information between authorized agents.
According to company data, the system will use Freight logistics software, a platform where users can conduct complex calculation processes, which, according to ChainGo Tech, are strictly necessary for the viability of the sector.
According to a press report from the Spanish news media Innovadores, the Freight platform can work through the Restful application, where different blockchain networks are interconnected to manage work in the supply chain faster.
Some records detail that important companies in the sector have already used this system on other occasions. One of the most important companies that have used the platform was Cemex, which greatly improved its internal and external processes.
Another important client has been the logistics company Carex Logistics, where Andrés Garrido, CEO of ChainGo Tech, mentions that ChainGo was able to increase the capacity of Carex Logistics and improve its efficiency.
“In the case of Carex Logistics, we were able to increase the capacity of an agent to manage documents from eight to 18 weekly exports. In turn, in the project developed with JCV Shipping within the Blockchers Program, we were able to increase the efficiency of the process by more than 35 % in the documentation management time.”
A Solution for Transport in Air, Land, And Sea
The ChainGo designed the solution to apply it in transport systems, both in sea, air, or land. According to the Spanish company, the system allows prioritizing the most important documentation and acting accordingly, managing the requested orders.
Regarding the current situation that the Covid-19 pandemic has generated, the representative of the company mentioned that the situation is very critical for the sector and has caused serious losses. The developer of the project also said that they have tried to mitigate the impact of the pandemic by adapting the system so that the work that users can do at home is in perfect operation.
“We are making a great effort by offering our blockchain technology software for free for two months so that all logistics operators who now work from home can do their jobs while maintaining efficiency and preserving the productivity and visibility of their operations.”
The Future of the Blockchain in the Supply Chain
In a report that the University of London Blockchain Technology Center published, the University established that whilst blockchain technology brought significant benefits to the supply sector, the industry still has significant challenges to overcome. Therefore, it could take a while for this solution to be the most viable on the market.
Despite this, in a study that the firm Ametic conducted, the technology market in Latin America and Spain will experience exponential growth during the rest of the year 2020, and until the year 2023. According to projections, this year investment by over 100 million dollars.
By María Rodríguez