Fayetteville-based logistics and supply chain management company CaseStack has announced a partnership with Greenville, N.C.-based ShipChain to test the use of blockchain technology beginning this summer.
CaseStack will use blockchain to track and trace shipments in addition to accepting crypto payments — SHIP tokens — akin to Bitcoin.
“The blockchain is a perfect solution for a lot of supply chain issues,” said CaseStack founder and CEO. “CaseStack has partnered with ShipChain to iterate on a gamut of solutions.”
The pilot program will integrate tracking and tracing on ShipChain’s blockchain based platform.
“Supply chain in a blockchain world means that shippers and carriers discover each other without intermediaries, and execute smart contracts to define any requirements,” Sanker added. “Payment happens with crypto instantly without transaction fees or risks, and load movements are tracked on an honest, immutable ledger that nobody [and everyone] controls.”
Sam Rusani, chief revenue officer at ShipChain, said the integration with CaseStack’s more than one million loads annually to major retailers is a great opportunity to implement the blockchain tracking platform, as well as a driver rewards program.
Blockchain technology is a $2.1 billion business today, according to research firm IDC.
John Monarch, CEO of ShipChain, said blockchain provides a once in a multi-generational opportunity to really transform the supply chain. The level of transparency and accountability it gives, along with the universally trusted automated smart contracts, provide new tools to increase efficiency.