We keep reading about IoT and blockchain, what they are and the great potential that these two magnificent technology hold, but very often do we come across literature that explains us the uses of both these relatively new techs in the market. Earlier, we talked about 5 incredibly innovative Blockchain-based IoT Applications and today, we will explain a real-life use case of IoT and Blockchain together.
Let’s start by saying that you want to have a frozen strawberry yogurt. What if I told you that IoT and blockchain when put to use together could make sure that the yogurt in your local market was of the highest quality possible, and it could do this by optimising the whole supply chain. Your next question for sure would be a how? So, let’s find out the answer to this how part.
Blockchain Tech in Use: The Supply Chain
It is important to note here that there are several other use cases for IoT and blockchain apart from the supply chain, but this particular usage is certainly one of the most easiest to explain such a heavy and complex topic.
In situations when different business partners decide to come together, it isn’t always necessary that their disparate systems easily meshes with one another. So, it will be absolutely rightful to say that there’s no easy way to delegate responsibility and manage payments when the contract teams have already been met. For instance, if the frozen yogurt spoils due to being exposed to extreme heat at some point between the processing plant and my bowl, how are we to know that when did this exactly happen? Did it happen on the truck? Or on a loading dock? Or did someone from the family simply forgot to timely unload groceries from the car?
Shipping containers enabled by the IoT
While there isn’t much Blockchain can do in the case of the last scenario mentioned above, but it can really ensure one thing that the frozen yogurt shipment arrives in excellent condition at their destination in shipping containers that are IoT enabled. In case during the supply chain process, a crucial variable like temperature goes even a little above the range approved, the IoT enabled containers will make it mighty easy to pinpoint exactly the point where the violation took place. This means, there won’t be any bickering or pinpointing between the various parties about exactly where the violation happened and whose to be deemed responsible for it. This is made possible as the data in the shipment package is sent to the IoT Platform through a private blockchain at certain marks along the journey of transportation, wherever connectivity is possible, and this data is then shared with all the involved or interested parties.
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