Blockchain, what it is, how it works and why we need to know it

The most informed or those who follow the world funding, began to hear about the "blockchain" in connection with the phenomenon Bitcoin, that is, digital currency. In fact, it is a protocol that concerns not only the monetary area, but, more generally, data management.

Blockchain, literally "block chain “ In fact, it is a term used in computer science to refer to a shared and immutable data structure. The first blockchain appeared in 2008 and was designed to have a reliable and reliable "transaction log". This paves the way for many other applications of this solution also in the transport world.

How it works

Blockchain is a digital registry capable of securely storing data and, above all, constant, a fundamental function that guarantees the reliability of transactions in the case of financial transactions. The data is grouped into Blocks, in fact, which after registration can no longer be changed or processed, as they are protected by the system cryptographic, but integrated only with the addition of new blocks, the procedure is regulated by the protocol. This chain can be found in various users, not necessarily related to each other.

Confidence in dates

A tamper-proof database has many advantages in case of cargo they can be identified mainly three: first it is possible to set the date with confidence registration document: this process is called notarization In addition, it can help to confirm with absolute safety of the truck trip and punctual delivery, which is an advantage for both the client and the carrier.

Fast and secure payments

By leveraging the initial intended use of the blockchain, payments can then be simplified, automated, or enforced. by default upon the occurrence of a certain event (for example, upon confirmation of delivery or after completion deadline), there is also confidence in the transactions and, therefore, the proposal more security on an always sensitive issue in many areas of the company.

More protection, less insurance costs

Thirdly, although certainly not least, the aspect in which the use of the database certified can overcome the challenges of uncertainty and inefficiency, is that insurance... It is not for nothing that some large companies are working on the implementation of blockchain platforms which will allow, for example, to automatically manage payments of policies, as well as procedures compensation, with less personnel costs, savings that can also be passed on to users.