During the COVID-19 pandemic, the second largest courier service in China (SF Express) is intensively engaging in blockchain technology and its possible applications for the transport of various goods.
Blockchain guarantees high standards and reliability
It is not known how extensively the company currently uses blockchain, but it is reported that the company is looking to establish blockchain more and more for the shipment of drugs and food. The transport of drugs and food products requires high standards and an enormous amount of reliability. As the Global Times reports, the Shenzhen-based company sees the technology as pioneering in tracing the origin of goods and checking the quality of medical products.
Counterfeit products can be detected quickly
The courier service SF Express wants to combine the blockchain with large amounts of data and build a logistic network from it, which allows tracking, verification and accurate recording of the goods. This should also minimize the risk of counterfeit or unlicensed products being available in the region. Other Chinese technology companies, such as the Alibaba Group or Huawei, also provide various solutions. The use of artificial intelligence is expected to improve the crisis in the public health system.
Various applications of blockchain in the logistics sector possible
The possibilities that the block chain brings with it in the health sector and in logistics in general are currently being considered in many countries. According to a study by the U.S. Food and Drug Administration, the savings potential for the pharmaceutical industry in the United States is very high. For example, the lower labor costs alone are expected to reduce annual costs by around 180 million dollars. European groups such as Edeka, Lidl, SAP and Lufthansa are also currently working on a joint blockchain project. This should result in a more efficient and transparent way of exchanging load carriers.
*Originally published in German at CVJ.ch