- 26 October 2016
- Transport / Logistics Services
Freshturf has been working with IBM to create a network of storage and parcel delivery parcel lockers across Singapore.
The startup Freshturf intends to use the IBM Blockchain service on Bluemix to track the shipment of goods. A blockchain system is a distributed database that maintains a continuously growing list of records that are secure from tampering and revision.
“As a startup, we wanted a partner and mentor who would guide us through the journey of adopting blockchain and building with cloud, while also helping us to grow,” said Jarryl Hong, Co-Founder, FreshTurf.
Blockchain has often been seen as a breakthrough in the financial services industry as it underpins digital currencies such as Bitcoin. IBM and Freshturf together claim that this new blockchain system is ‘breaking new ground’ with the Singapore system.
In a statement issued by IBM, Alan Lim, Practice Lead, IBM Blockchain & Bluemix Garage, ASEAN, said: “IBM is working closely with startups and larger enterprises alike to accelerate the design and development of blockchain applications.”
According to IBM, Blockchain “provides a permanent record of transactions which are then are grouped in blocks that cannot be altered”, and it offers significant opportunities for the logistics sector because “it could serve as an alternative to traditional paper tracking and manual inspection systems, which can leave supply chains vulnerable to inaccuracies”.
Saving on paperwork is a major aim of delivery companies as electronic systems are far easier to process without the issue of having to manually input the data as happens with paper systems. The blockchain system may well be the answer other delivery companies seek for a secure and reliable system of goods tracking.
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