The Smart Contract

An enhanced version applied for logistics management at our ports may include the use of what is called a smart contract. The smart contract would work by creating a logic agreement to broaden functionality. An if/else statement could be used as part of the sequenced agreement to also be checked by the principle algorithm. If/else statements signify that if two conditions are mutually exclusive then if one condition is true, the other statement must be false. They are commonly used in programming languages such as SQL, Java and Python. Once the if/else statement result is checked by the algorithm and confirmed, the system could then add a layer and transfer additional information to the ledger. This may include digital copies of all of the transaction documentation that are relevant to a particular movement. This would then create a block chain generated document workflow to either replace or parallel current workflow processes in place. An adjacent data set may include operational security information to get secure information transmitted immediately to the people who need it quickly – this is key at the ports.

For instance, imagine if a driver or container handler could instantly receive a completely verified QR code in real time that instructed him/her precisely what actions to take. Wait times could be instantly reduced, operational confusion minimized and security increased immeasurably. In the current system, document workflows are clumsily verified though ERP modules, regular paper trails, e-mails even phone calls. The potential for errors, miscommunication and even falsification are tremendous and often lead to unnecessary delays and poorly routed shipments. These are major inefficiencies that create an abundance of waste and defect in all manner of transportation activities. A blockchain driven document workflow would maximize visibility for all nodes while providing an ability to provide live updates to each smart contract block as they are created. Because of the failsafe logic agreement, suspicious actions would be rejected meaning that approvals could come automatically and seamlessly. A history of document workflow will have been instantly created that lends to efficiencies at all levels. A nice ancillary benefit may be the trust that is established as an inherent part of this entire process, nodes can communicate and work together in confidence under an umbrella of complete security.