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Code of Trust: Delving into the Power of Blockchain


Code of Trust: Delving into the Power of Blockchain

In an age where trust is increasingly at a premium, blockchain technology emerges as a beacon of transparency and security. With its decentralized and immutable ledger system, blockchain has revolutionized various industries, from finance to supply chain management. But beyond its technical intricacies lies a profound concept: the code of trust. Understanding this code not only elucidates the inner workings of blockchain but also sheds light on its transformative potential across diverse domains.

Decentralization: The Foundation of Trust

At the heart of blockchain’s trustworthiness lies its decentralized nature. Traditional systems rely on central authorities to validate transactions and maintain records, leaving room for manipulation and fraud. In contrast, blockchain distributes this responsibility across a network of nodes, ensuring consensus without the need for intermediaries. This decentralized architecture fosters trust by eliminating single points of failure and enhancing security against malicious actors.

Harnessing the Power of Polygon Staking

In the realm of blockchain, Polygon Staking stands out as a pivotal mechanism for enhancing trust and incentivizing network participation. Here’s how Polygon Staking contributes to the code of trust.

  • Secure and Reliable Validation: Polygon Staking leverages a proof-of-stake consensus mechanism, where validators are chosen to create new blocks based on the number of tokens they hold and are willing to “stake” as collateral. This approach ensures that only trusted participants with a vested interest in the network’s integrity are selected to validate transactions, enhancing security and reliability.
  • Economic Incentives for Participation: By staking their tokens, participants in the Polygon network not only contribute to its security but also earn rewards in the form of additional tokens. These economic incentives encourage active participation and foster a sense of community ownership, strengthening the network’s resilience and trustworthiness.
  • Scalability and Efficiency: Polygon’s staking infrastructure enhances the network’s scalability and efficiency, allowing for faster transaction processing and lower fees. Through staking, validators help secure the network and validate transactions, enabling seamless interoperability and fostering trust in the reliability of Polygon’s infrastructure.
  • Community Governance and Consensus: Staking on Polygon empowers participants to actively engage in network governance and decision-making processes. Through voting mechanisms and proposal systems, stakers can shape the future direction of the network, ensuring that it evolves in a transparent and decentralized manner. This community-driven approach enhances trust and fosters collaboration among stakeholders.

By embracing Polygon Staking, blockchain ecosystems can unlock new dimensions of trust and resilience, paving the way for a more secure and inclusive digital economy.

Immutability: Building Blocks of Integrity

One of the defining features of blockchain is its immutability. Once a transaction is recorded on the blockchain, it becomes virtually impossible to alter or erase. This immutability stems from the cryptographic principles underlying blockchain technology, where each block is linked to the previous one, creating a chain of immutable records. By ensuring data integrity, blockchain instills confidence in the veracity of information, enabling stakeholders to trust the authenticity of transactions and records.

Transparency: Illuminating the Path of Trust

Transparency is the cornerstone of trust, and blockchain excels in providing unparalleled visibility into transactions and processes. Every participant in the network can access the same version of the blockchain, allowing for real-time monitoring and auditing. This transparency not only deters fraudulent activities but also fosters accountability among stakeholders. By promoting openness and accountability, blockchain cultivates a culture of trust within ecosystems, driving efficiency and collaboration.

Smart Contracts: Enforcing Trust Through Code

Smart contracts epitomize the marriage of technology and trust in the blockchain realm. These self-executing contracts automatically enforce predefined rules and conditions without the need for intermediaries. By leveraging blockchain’s decentralized infrastructure, smart contracts ensure tamper-proof execution and eliminate the risk of human error or bias. Whether facilitating financial transactions or governing supply chain agreements, smart contracts streamline processes and instill confidence in the reliability of automated interactions.

Community Consensus: Nurturing Trust Through Collaboration

Blockchain’s trust model extends beyond technology to encompass community consensus and governance. Decentralized networks rely on the collective agreement of participants to validate transactions and implement changes. Through mechanisms like proof of work or proof of stake, blockchain protocols incentivize participants to act honestly and uphold the integrity of the network. This consensus-based approach democratizes decision-making and fosters a sense of ownership among stakeholders, reinforcing trust in the sustainability and resilience of blockchain ecosystems.

Challenges and Opportunities Ahead

While blockchain holds immense promise for transforming trust paradigms, it is not without its challenges. Scalability, interoperability, and regulatory concerns continue to pose obstacles to widespread adoption. Moreover, the nascent nature of blockchain technology necessitates ongoing innovation and collaboration to address evolving threats and vulnerabilities. However, amidst these challenges lie boundless opportunities to harness blockchain’s potential for societal impact, from enhancing financial inclusion to combating counterfeit goods.

Empowering Individuals

Beyond its applications in industries, blockchain technology also empowers individuals by giving them greater control over their data and assets. With blockchain, individuals can securely store and manage their digital identities, financial assets, and personal information without relying on centralized authorities. This empowerment fosters a sense of ownership and autonomy, enabling individuals to participate more actively in digital transactions and interactions. By putting individuals in control of their data and assets, blockchain not only enhances trust but also promotes inclusivity and democratization in the digital economy.

Conclusion: Embracing the Promise of Trust

In a world rife with uncertainty and mistrust, blockchain emerges as a beacon of hope, offering a transformative vision of trust rooted in decentralization, transparency, and integrity. By unraveling the code of trust embedded within blockchain, we unlock not only its technical intricacies but also its profound implications for reshaping industries and empowering communities. As we navigate the complexities of an increasingly interconnected world, let us embrace the promise of blockchain and cultivate a future built on the foundation of trust.


How to Ensure Compliance in Blockchain Software Development

Regulatory Compliance in Enterprise Blockchain Development

In today’s tech-savvy scenario, blockchain has emerged as a transformative force for businesses, enabling transparent and secure transactions. From finance and supply chains to healthcare and government services, businesses across industries are leveraging this powerful technology to revolutionize their operations.

As companies embrace the benefits of blockchain technology, they must navigate a complex landscape of regulatory compliances, ensuring the successful development and deployment of enterprise blockchain software. 

Not sure how to ensure regulatory compliance while adopting blockchain technology? Well, in this blog, we will delve into the key aspects of regulatory requirements in enterprise blockchain software development, providing you with a roadmap to navigate the regulatory challenges effectively.

Understanding the Importance of Regulatory Compliance

Regulatory compliance entails the act of adhering to rules, regulations, laws, and guidelines applied to the business practices of a particular organization within an industry. In the context of blockchain software development, it refers to the observance of legal stipulations that apply to blockchain networks and transactions.

As blockchain is a global and decentralized technology, ensuring compliance can be a complex process involving multiple jurisdictions and different rules. Some of the most common regulations that businesses must adhere to while adopting enterprise blockchain are:

  • Anti-Money Laundering (AML) requirements
  • Know Your Customer (KYC) policies
  • Financial Action Task Force (FATF) regulations
  • Data privacy and protection laws like GDPR
  • Other international standards like ISO 20022

Blockchain Regulatory Compliance Challenges

While blockchain offers significant advantages like increased security, transparency, and efficiency, its decentralized nature poses some unique regulatory challenges. Thus, understanding these challenges and their respective solutions is essential to ensure compliance with blockchain technology.

Data Privacy 

Data security and privacy regulations, such as GDPR (General Data Protection Regulation) and HIPAA (Health Insurance Portability and Accountability Act), impose strict requirements on the handling of personal data. Blockchain’s immutability can create compliance challenges, as data stored on the blockchain is permanent and cannot be deleted.

Therefore, to ensure compliance, enterprises must adopt best practices for data protection, such as data encryption, two-factor authentication, biometric identification, etc. It will help prevent unauthorized access and reduce the risk of data breaches.

Financial Protection

In the BFSI market, blockchain is subject to rigorous financial regulations such as AML, KYC, FATF, and so on. Adhering to these regulations is crucial to prevent fraud and ensure compliance.

Businesses can implement robust AML and KYC procedures in their blockchain software. Also, they should use smart contracts and digital identity verification to maintain compliance.

Compatibility Challenges

In the realm of blockchain software development, it is crucial to address the compatibility issues that may arise when integrating with established international standards like ISO 20022. It is a widely used framework for electronic data exchange among financial institutions, but not all blockchain systems are compatible with ISO standards.

Thus, enterprises must ensure that their blockchain applications can seamlessly interface with these conventional systems, as failure to do so may lead to regulatory non-compliance.

How Can Enterprises Implement Regulatory Compliance into Blockchain Software Development?

Ensuring adherence to regulatory compliances within the realm of blockchain development can be a complex and demanding task. However, there are several proactive measures businesses can take to promote compliance with pertinent laws and regulations.

Understand the Regulatory Landscape

Businesses must have a thorough understanding of the laws and regulations that apply to their specific use case or industry. This encompasses a comprehensive understanding of data privacy regulations, financial compliance standards, securities laws, and other relevant legal frameworks.

Integrate Compliance into the Blockchain

The integration of compliance should be a pivotal aspect of the entire blockchain project, spanning from its design phase to deployment. It involves implementing features like identity verification, meticulous audit trails, and robust data privacy controls.

Deploy AML and KYC Measures

Depending on your application, it is imperative to establish robust KYC and AML procedures to align with financial regulations. It may involve verifying the identity of users and vigilantly monitoring transactions for any suspicious activity.

Seek Legal Advice

Blockchain is an emerging technology and the regulatory landscape associated with its use is continually evolving. Consulting with a legal expert who is well-versed in the right implementation of blockchain technology can provide businesses with invaluable insights and guidance needed to ensure regulatory compliance.

Maintain Comprehensive Records

Businesses need to maintain a detailed record of all transactions and activities as it will help ensure compliance with regulatory requirements. This includes maintaining a record of user identities, transaction history, and compliance protocols.

Review and Update Compliance Protocols

As the laws and regulations are subject to change, it is important to regularly assess compliance protocols and make necessary updates within your system. This ensures their continued effectiveness and relevance in the ever-changing regulatory environment.

Final Thoughts

Ensuring regulatory compliance in enterprise blockchain software development and deployment requires a proactive approach at every stage of the blockchain project. By following the best practices mentioned in this blog, businesses can ensure that their blockchain project effectively complies with all the relevant laws and regulations pertinent to their industry.



Digital Decipher: The Tech DNA of Blockchain’s Success

Blockchain technology has emerged as a revolutionary force, promising to disrupt industries across the spectrum. From finance and healthcare to supply chain management and beyond, the decentralized, immutable ledger system of blockchain has the potential to transform the way we transact, interact, and trust in the digital age. But what lies at the core of blockchain’s success? In this article, we will delve into the technological DNA of blockchain, exploring the key elements that make it a game-changer.

The Genesis of Blockchain

To understand the tech DNA of blockchain, we need to start at its origins. Blockchain was first conceptualized in a whitepaper by the pseudonymous Satoshi Nakamoto in 2008. It was designed as the underlying technology for Bitcoin, a digital cryptocurrency. The primary purpose was to create a decentralized system that eliminated the need for trust in intermediaries, such as banks, while ensuring the security and immutability of transactions.

Distributed Ledger Technology (DLT)

At the heart of blockchain is the concept of a distributed ledger. Unlike traditional databases, which are centralized and prone to manipulation or corruption, a blockchain’s ledger is distributed across a network of nodes. This decentralization ensures that no single entity has control over the entire system, making it more secure and transparent.

Consensus Mechanisms: Ensuring Trust

Consensus mechanisms are critical in blockchain technology, as they are responsible for validating and recording transactions on the ledger. Several consensus mechanisms exist, with the two most common ones being Proof of Work (PoW) and Proof of Stake (PoS).

Proof of Work (PoW)

PoW, used in Bitcoin, involves miners solving complex mathematical puzzles to validate transactions and add them to the blockchain. This system incentivizes miners to work honestly by rewarding them with cryptocurrency. While effective, PoW is energy-intensive and slow in transaction processing.

Proof of Stake (PoS)

PoS, on the other hand, doesn’t require energy-intensive mining. Instead, validators are chosen to create new blocks based on the amount of cryptocurrency they hold and are willing to “stake” as collateral. PoS is faster, more energy-efficient, and gaining popularity due to these advantages.

Security and Immutability

Blockchain’s DNA also includes robust security and immutability features.

Cryptographic Hash Functions

Transactions on the blockchain are secured using cryptographic hash functions. These functions ensure data integrity by converting transaction data into a fixed-length string of characters. Any change in the original data will result in a completely different hash, making it practically impossible to alter past transactions without detection.

Decentralization and Immutability

The distributed nature of blockchain ensures that it is exceedingly difficult for a single entity to alter the data on the blockchain. Once a transaction is added to the blockchain, it becomes immutable, meaning it cannot be changed or deleted. This immutability enhances trust in the system, making it suitable for applications where data integrity is paramount.

Smart Contracts: Automating Trust

Smart contracts are self-executing agreements with the terms of the contract directly written into code. They automate and enforce the execution of an agreement, removing the need for intermediaries. Ethereum, the pioneer of smart contracts, has played a pivotal role in the development of this feature.

Decentralized Applications (DApps)

Smart contracts have paved the way for the development of decentralized applications, or DApps. These applications run on blockchain networks and can range from financial services to gaming. By eliminating the need for centralized servers, DApps enhance security and transparency while reducing the risk of downtime.

Interoperability: Bridging Blockchains

The blockchain ecosystem is rapidly evolving, with numerous blockchain networks existing in parallel. Ensuring interoperability among these networks is crucial for the technology’s long-term success.

Cross-Chain Platforms

Cross-chain platforms, like Polkadot and Cosmos, are designed to connect different blockchain networks. They act as bridges, allowing assets and data to move seamlessly between blockchains. This interoperability enhances the utility and flexibility of blockchain technology.

Scalability: Overcoming Bottlenecks

Scalability has been a recurring challenge for blockchain technology. Traditional blockchains like Bitcoin and Ethereum face limitations in terms of transaction throughput and speed.

Layer 2 Solutions

To overcome these scalability issues, layer 2 solutions have been developed. These are secondary protocols that operate on top of a blockchain and can handle a high volume of transactions off the main chain. They offer faster and more cost-effective solutions for users.

Privacy in Public Blockchains

While public blockchains are renowned for their transparency, some applications require privacy. Innovations like zero-knowledge proofs and confidential transactions address this need by allowing parties to verify information without revealing sensitive data.

Withdraw Bitcoin: A Seamless Process

When it comes to withdrawing Bitcoin from a blockchain network, the process is designed to be user-friendly and efficient. Here are the key steps involved:

  • Access Your Wallet: Log in to your cryptocurrency wallet, which holds your Bitcoin. This can be a hardware wallet, a software wallet, or an account on a cryptocurrency exchange platform.
  • Verify Your Identity: Some platforms may require identity verification for security purposes. This step often involves providing personal information and documents to ensure the safety of your funds.
  • Select Withdrawal Option: Choose the “Withdraw” or “Send” option within your wallet or exchange account. This is where you initiate the withdrawal process.
  • Enter Recipient Details: Specify the recipient’s Bitcoin wallet address. Ensure that you accurately copy and paste the address to avoid any errors.
  • Specify Withdrawal Amount: Indicate the amount of Bitcoin you want to withdraw. Double-check the amount to ensure accuracy.
  • Confirm Transaction: Review the withdrawal details, including the recipient address and withdrawal amount. Confirm that everything is correct before proceeding.
  • Security Verification: Some platforms may require additional security measures, such as two-factor authentication (2FA), to confirm the withdrawal.
  • Transaction Fee: Be aware that there may be a transaction fee associated with the withdrawal. This fee varies based on network congestion and the platform you’re using.
  • Finalize Withdrawal: Once you’ve verified all the details and paid any applicable fees, confirm the withdrawal. The platform will process the transaction.
  • Monitor Confirmation: Keep an eye on your transaction status. It may take some time for the Bitcoin network to confirm the withdrawal, depending on network congestion and the fee you paid.
  • Check Your Wallet: After confirmation, check your Bitcoin wallet to ensure the funds have been successfully withdrawn and are in your possession.

Withdraw Bitcoin is a fundamental part of managing your cryptocurrency holdings, and these steps are designed to make the process secure and straightforward. Always exercise caution, double-check details, and consider the transaction fees associated with the withdrawal to ensure a smooth experience.

The Future of Blockchain Technology

As we dive deeper into the technological DNA of blockchain, it becomes evident that its success is rooted in decentralization, security, transparency, and the ability to automate trust. These core principles have paved the way for a multitude of use cases, from digital currencies and supply chain management to voting systems and identity verification.

The future of blockchain holds promises of even greater innovation. With advancements in consensus mechanisms, privacy features, and interoperability, the technology is set to revolutionize not only the digital world but various industries as well.

Blockchain’s DNA is a testament to the potential for trustless, decentralized systems in an increasingly interconnected and digitized world. As it continues to evolve and mature, we can expect blockchain to become an integral part of our daily lives, reshaping the way we transact and interact in the digital landscape.


Supply Chain Evolution: The Role of Blockchain in Logistics

This blog entails an in-depth discussion on the pivotal role of blockchain in streamlining supply chain and logistics management processes. Read to know more.

The advent of blockchain technology has sparked a newfound interest in the entire logistics and supply chain management community. In the era of complex globalized trade and supply chain processes, ensuring security and transparency has become a major concern for logistic businesses. Problems in traditional supply chain system, like lack of trust, operational and information gaps, and vulnerabilities to counterfeiting and fraud, has made it extremely crucial to automate the entire system. 

However, blockchain technology has opened up opportunities for revolutionizing the supply chain management process. It offers an immutable and decentralized platform that enables traceability, transparency, and enhanced security. By opting for custom blockchain software development services, logistics, and supply chain businesses are now building applications that are helping them to manage their business, ensuring increased returns seamlessly. 

In this blog, we will explore the market overview of blockchain in the supply chain and logistics industry, the benefits, and the future that blockchain as an advanced technology holds for the industry. Let’s dig deeper. 

The Market Overview of Blockchain in the Supply Chain And Logistics Industry

Blockchain in the supply chain industry is experiencing significant growth. The blockchain supply chain market size is projected to garner a revenue of $3,272 million by 2026 by growing at a CAGR of 53.2%. Companies across supply chain and logistics industries increasingly adopt blockchain technology to ensure complete traceability, enhanced transparency, and security in their supply chain management processes. 

With its smart contract and immutable ledger capabilities, blockchain technology is helping this industry to reduce instances of fraud, automate its processes, and streamline its regular workflows. The implementation of IoT in the supply chain and logistics software development has recently been on the rise, owing to its smart features like data monitoring and real-time tracking. While challenges like industry-wise standards and scalability are still prominent, blockchain technology will continue to evolve and transform the entire sector by ensuring the authenticity of products and improved efficiency.

How do Blockchain Software Development Services Streamline Logistics and Supply Chain Processes?

Custom blockchain software development services have the potential to streamline logistics and supply chain workflows in several ways. Here are some of them:

Immutable Records

Blockchain technology offers a crucial benefit in terms of data integrity. When a data point or transaction gets added to the blockchain, it becomes immutable and cannot be changed or deleted. This tamper-proof feature ensures complete data integrity regarding smart contracts, shipments, and other logistic processes. As a result, the reliability and trustworthiness of the data stored on the blockchain are completely guaranteed, offering a solid foundation for secured, scalable, and transparent transactions.

Smart Contracts

This type of self-executing agreement triggers actions automatically when a few pre-defined requirements or conditions are met. In the case of logistics and supply chain, smart contracts can easily automate processes like customs clearance, payment settlements, and route optimization. Smart contracts also eliminate the requirement for intermediaries, reducing the risk of errors.

Reduction of Fraudulent Activities

Fraud and hacking activities like double spending, counterfeiting, and document forgery are common challenges the logistics and supply change industry faces. With its cryptographic features, blockchain reduces the risk of fraud to a certain extent, making it difficult for malicious attackers to duplicate assets or manipulate data. 

Dispute Resolution

In a few situations of inconsistencies, leveraging blockchain’s transparent, immutable, and auditable records can help enhance the efficiency of the dispute resolution process. By offering intermediaries a clear and detailed transactional history, blockchain technology helps them identify and address the root cause of any issues. This level of transparency accelerates the dispute resolution process and assures a more profitable outcome for all involved parties.

Increased Transparency 

The decentralized nature of blockchain ensures that all the participants enjoy complete transparency and get access to real-time data or information. This transparency ensures seamless tracking of shipments, compliance with regulations, and verifications of product origins. It even reduces delays and disputes caused by any information or data discrepancies. 

Supply Chain Traceability

Blockchain ensures end-to-end traceability of various products in the supply chain industry. These products are assigned to a unique identifier, and their journey can be recorded and tracked from manufacturer to consumer in real-time. This is specifically valuable for industries with strict regulations, like the pharmaceutical and food industries, for ensuring compliance and product safety.

Cost Savings

Custom blockchain solutions offer cost-saving opportunities for logistics and supply chain businesses. By automating and regulating various processes, blockchain technology solutions eliminate the need for intermediaries, resulting in reduced operational expenses. Furthermore, the use of blockchain technology lowers the chances of errors and delays, thus leading to improved efficiency and customer satisfaction. Blockchain technology can lead to substantial financial gains while streamlining operations and boosting customer experience.

Streamlined Paperwork

The paperwork associated with traditional logistics businesses is extensive and includes bills, invoices, and customs forms. Blockchain technology can easily automate and digitize these documents, thus cutting down on administrative work and reducing the chances of errors.

Real-Time Tracking

Blockchain-based software solutions can seamlessly connect to Internet of Things (IoT) hardware, including RFID tags, GPS trackers, and sensors, which makes it easier to track shipments in real-time and monitor environmental factors for fragile cargo, such as temperature and humidity checks.

Improved Collaboration

Integrating blockchain technology into existing systems can enhance collaboration among key players or stakeholders in the logistics ecosystem, such as shippers, producers, carriers, customs officials, and customers. This happens because of the development of a shared platform for data exchange that helps in an improved decision-making process.

Blockchain is All Set to Transform the Future of Logistics and Supply Chain Management 

With its ability to boost security, transparency, and automation, blockchain technology is all set to transform the entire future of the logistics and supply chain industry. With various features of blockchain, like smart contracts, immutable records, and real-time tracking, it will become possible to streamline logistics workflows, reduce cost, and mitigate the risk of fraud. 

Its application and integration will lead to a more transparent and efficient supply chain process.

Also, with features like end-to-end traceability and improved collaboration, the investors and stakeholders can ensure complete compliance, product safety, and faster dispute resolution when it comes to managing their supply chain. 

As the supply chain and logistics industry continues to adopt top-notch custom blockchain solutions by hiring the services of the best app developer UK, it will bring in an era of efficiency and reliability, making supply chain processes more resilient to future demands.

trade finance


Trade finance is known for its stubbornness in the face of change. Even as the world has gone digital, paper-based manual processes remain commonplace across the complex network of counterparties involved in financing global trade. Thankfully, the tide is now turning. To digitize or not digitize is no longer the question–it’s now a case of “when,” not “if.”

The operational challenges of relying on manual processes and systems are well known and much maligned across the industry–incorrect documentation and KYC, non-interoperable systems, manual reconciliation, poor visibility, excessive costs, to name just a few.

Digital solutions have emerged in many different shapes and sizes, but one of the technologies which seems most encouraging is enterprise blockchain. Trade is a fundamentally decentralized system. The industry is heavily intermediated–predominantly by banks that help to facilitate transactions and provide the financing behind them, but also by insurers, customs officials and other market participants. Firms have tried countless times to apply centralized solutions to this decentralized system but, unsurprisingly, none have really worked. 

The decentralized nature of blockchain makes it a perfect fit for trade finance. For the first time, the entire industry is getting behind a technology and moving it into real world deployment at a record pace. The architecture underpinning the entire ecosystem of trade is undergoing complete digital transformation, and exciting new blockchain-enabled developments continue to emerge. One such development is non-fungible tokens, or NFTs. But what are they and how do they benefit participants? 


A non-fungible token is a unique and non-interchangeable unit of data stored on a digital ledger. NFTs use blockchain technology to provide a public proof of ownership. You’ve probably heard of NFTs in the entertainment industry, largely because they can be associated as unique items with easily reproducible items such as photos, videos, audio and other types of digital files. But they also have wide applicability in the financial services space–and specifically in trade finance. 

It’s important to note that an NFT is simply a specific type of tokenization. Once a trade finance document or obligation has been tokenized, it can be referred to as an NFT. By contrast, a smart contract is a digital contract, stored on blockchain, which will execute once specified conditions are met. In the case of trade finance asset distribution, both smart contracts and tokenization work together to facilitate this activity.


In reality, NFTs for trade finance have been around for some time, though we’ve only just begun to describe them this way. You could think of trade finance as a practical implementation of the NFTs in the news today. Marco Polo is one such platform which already tokenizes payment obligations and invoices. 

Storing ownership data on blockchain reduces the costs and complications of paperwork that is otherwise required to verify the process. This is no small feat when you consider many of the processes and technologies underpinning trade finance have not been modernized in decades.

Take, for example, invoice financing. While a common activity, managing invoice payments and terms can be slow and inefficient for companies and their trading partners. They must navigate different currencies and jurisdictions, each with unique requirements in terms of contract terms and payments. 

By digitizing these manual processes and storing the data as an NFT, a technology such as blockchain has a real impact on reducing the costs, risks and delays to participants involved in trade finance. 


It is complicated and legally difficult to provide an optimal level of credit support to small companies. Nearly $1.5 trillion of demand for trade finance is rejected by banks, according to the Asian Development Bank, with 60% of banks expecting this figure to increase over the next two years. SMEs in developing markets that rely heavily on access to trade can be severely hindered through these outdated processes.

Tokenizing the payment guarantee of the final buyer can make it easier to provide this support, but there are important caveats to this. While tokenizing payment guarantees makes it cheaper and easier to execute credit support, there is no guarantee that these processes will then be used to extend supply chain financing through to the long tail of suppliers. It certainly could be used in this way, but it also might not be. This needs to be adopted at the industry level as suppliers would need to pass the NFT onto their own suppliers in turn for the tokenization of payment guarantees to truly be effective.

Although tokenizing the payment guarantee of the final buyer is a frequently mentioned use case, NFTs can also be used to digitize invoices for factoring, for example. Asset originators can tokenize invoices which can then be financed. This could be a very helpful step in enabling small companies to access the financing they need to grow trade.


Beyond their immediate benefits to banks and trading businesses, NFTs can also enable institutional investors to expand their activity in trade finance assets. These assets have historically struggled to scale for well-known reasons: investors find them complicated, there aren’t trusted quantitative benchmarks available and there often isn’t the necessary infrastructure to process them properly. Tokenizing trade finance receivables and payment obligations can simplify the process of asset transfer and solve one of these challenges, thus contributing to the scaling of trade finance assets.

Interest in trade finance as an asset class has grown over the past couple of years for reasons unrelated to NFTs. NFTs, as we think of them today, are relatively new and tend to be associated with digital content rather than physical goods. This framework suits trade finance assets because while they are linked to physical assets, the securities themselves are digital.

Programmable contracts used in combination with NFTs have shown great promise in tackling the problem of trade finance asset distribution. The use of the two functionalities together has promise as a way to support the building momentum around trade finance as an asset class.


In order to get the most out of NFTs and blockchain for trade finance–like any nascent technology–they must be used alongside existing systems. In reality, most businesses will continue to use their long-standing legacy systems throughout this transition to a fully digitized space. 

It is crucial, therefore, that disruption is kept to a minimum. NFTs and enterprise blockchain platforms should be viewed as a means of supporting and improving current processes, rather than replacing them. In other words, integration is the single most important factor in helping this industry to keep up with the rapidly digitizing world around it.   


As head of Trade and Supply Chain at R3, a Dublin, Ireland-headquartered enterprise technology and services provider with offices around the world, Alisa DiCaprio is responsible for trade strategy, standards and governance design. She was previously a senior economist at the Asian Development Bank and holds a doctorate from MIT.


DeFi World has a new star called DAO

As financial markets wrap up the year 2021 and launch into 2022 at warp speed, the “DeFi” world has a new star called the “DAO”.

Decentralized finance, short-handed as “DeFi”, refers to peer-to-peer finance enabled by Ethereum, Avalanche, Solana, Cardano and other Layer-1 blockchain protocols, as distinguished from centralized finance (“CeFi”) or traditional finance (“TradFi”), in which buyers and sellers, payment transmitters and receivers, rely upon trusted intermediaries such as banks, brokers, custodians and clearing firms. DeFi app users “self-custody” their assets in their wallets, where they are protected by their private keys. By eliminating the need for trusted intermediaries, DeFi apps dramatically increase the speed and lower the cost of financial transactions. Because open-source blockchain blocks are visible to all, DeFi also enhances the transparency of transactions and resulting asset and liability positions.

Although the proliferation of non-fungible tokens, or NFTs, may have gathered more headlines in 2021, crypto assets have become a legitimate, mainstream and extraordinarily profitable asset class since they were invented a mere 11 years ago.  The Ethereum blockchain and its digitally native token, Ether, was the wellspring for DeFi because Ether could be used as “gas” to run Layer-2 apps built to run on top of Ethereum. Since then, Avalanche, Solana and Cardano, among other proof-of-stake protocols, have launched on mainnet, providing the gas and the foundation for breathtaking app development which is limited only by the creativity and industry of development teams.

Avalanche and its digitally native token AVAX exemplify this phenomenon. Launched on mainnet a little more than a year ago, Avalanche already hosts more than 50 fully-launched Layer-2 apps. The AVAX token is secured by more than 1,000 validators. Recently, the Avalanche Foundation raised $230 million in a private sale of AVAX tokens for the purpose of supporting DeFi projects and other enhancements of the fully functional Avalanche ecosystem. Coinbase, which is a CeFi institution offering custodial services to its customers, facilitates purchases and sales of the Avalanche, Solana, Cardano and other Layer-1 blockchain tokens, as well as the native tokens of DeFi exchanges such as Uniswap, Sushiswap, Maker and Curve. So formidable is DeFi in its potential to dominate the industry that Coinbase, when it went public in 2021, cited competition from DeFi as one of the company’s primary risk factors.

If DeFi were “a company,” like Coinbase, the market capitalization of AVAX would be shareholder wealth. But DeFi is code, not a company. Uniswap is a DeFi exchange that processed $52 billion in trading volume in September 2021 without the help of a single employee. Small wonder that CeFi and TradFi exchanges are concerned.

DeFi apps require “DAOs,” or Decentralized Autonomous Organizations, to operate. DAOs manage DeFi apps through the individual decisions made by decentralized validator nodes who own or possess tokens sufficient in amount to approve blocks. Unlike joint stock companies, corporations, limited partnerships and limited liability companies, however, DAOs have no code (although, ironically, they are creatures of code). In other words, there is no “Model DAO Act” the way there is a “Model Business Corporation Act.” DAOs are “teal organizations” within the business organization scheme theorized by Frederic Lalou in his 2014 book, “Reinventing Organizations.” They are fundamentally unprecedented in law.

Just as NFTs have been a game changer for creators, artists and athletes, our legal system will need to evolve to account for the creation of the DAOs that govern NFTs and other crypto assets. (NFTs are a species of crypto asset.) Adapting our legal system to account for DAOs represents the next wave of possibility for more numerous and extensive community efforts.

A DAO is fundamentally communitarian in orientation. The group of individuals is typically bound by a charter or bylaws encoded on the blockchain, subject to amendments if, as and when approved by a majority (or some other portion) of the validator nodes. Some DAOs are governed less formally than that.

The vast majority of Blockchain networks and smart contract-based apps are organized as DAOs. Blockchain networks can use a variety of validation mechanisms.  Smart contract apps have governance protocols built into the code.  These governance protocols are hard-wired into the smart contracts like the rails for payments to occur, fully automated, and at scale.

In a DAO, there is no centralized authority — no CEO, no CFO, no Board of Directors, nor are there stockholders to obey or serve. Instead, community members submit proposals to the group, and each node can vote on each proposal. Those proposals supported by the majority (or other prescribed portion) of the nodes are adopted and enforced by the rules coded into the smart contract.  Smart contracts are therefore the foundation of a DAO, laying out the rules and executing the agreed-upon decisions.

There are numerous benefits to a DAO, including the fact that they are autonomous, do not require leadership, provide objective clarity and predictability, as everything is governed by the smart contract. And again, any changes to this must be voted on by the group, which rarely occurs in practice.  DAOs also are very transparent, with everything documented and allowing auditing of voting, proposals and even the code. DAO participants have an incentive to participate in the community so as to exert some influence over decisions that will govern the success of the project. In doing so, however, no node participating as part of a decentralized community would be relying upon the managerial or entrepreneurial efforts of others in the SEC v. Howey sense of that expression. Neither would other nodes be relying upon the subject node. Rather, all would be relying upon each other, with no one and no organized group determining the outcome, assuming (as noted) that the network is decentralized. Voting participants in DAOs do need to own or possess voting nodes, if not tokens.

As with NFTs, there are limitless possibilities for DAOs.  We are seeing a rise in DAOs designed to make significant purchases and to collect NFTs and other assets. For example, PleasrDAO, organized over Twitter, recently purchased the only copy of the Wu-Tang Clan’s album “Once Upon a Time in Shaolin” for $4 million. This same group has also amassed a portfolio of rare collectibles and assets such as the original “Doge” meme NFT.

In addition to DAOs that are created as collective investment groups, there are DAOs designed to support social and community groups, as well as those that are established to manage open-source blockchain projects.

As is true with any emerging technology, there is currently not much regulation or oversight surrounding DAOs. This lack of regulation does make a DAO much simpler to start than a more traditional business model. But as they continue to gain in popularity, there will need to be more law written about them.

The State of Wyoming, which was first to codify the rules for limited liability companies, recently codified rules for DAOs domiciled in that state. So a DAO can be organized as such under the laws of the State of Wyoming. No other state enables this yet.

Compare the explosion in digital assets to the creation of securities markets a century ago.  After the first world war concluded in 1917, the modern securities markets began to blossom.  Investors pooled their money into sophisticated entities called partnerships, trusts and corporations, and Wall Street underwrote offerings of instruments called securities, some representing equity ownership, others representing a principal amount of debt plus interest.  Through the “roaring ‘20s,” securities markets exploded in popularity. Exuberance became irrational. When Joe Kennedy’s shoeshine boy told him that he had bought stocks on margin, Kennedy took that as a “sell” signal and sold his vast portfolio of stocks, reinvesting in real estate: he bought the Chicago Merchandise Mart and was later appointed by FDR to chair the SEC.  When the stock market crashed, fingers were pointed.  Eventually, a comprehensive legislative and regulatory scheme was built, woven between federal and state legislation and regulatory bodies.  Almost a hundred years later, securities markets have become the backbone of our financial system, and investors and market participants have built upon the certainty of well-designed architecture to create financial stability and enable growth.

But the legislative paradigm designed in the 1930s was not created with digital assets in mind. The world was all-analog then. The currently disconnected and opaque regulatory environment surrounding digital assets presents a challenge to sustained growth in DeFi markets.  Without “crypto legislation,” government agencies have filled the void, making their own determinations, and they are not well suited to do so. Just before Thanksgiving, the federal banking agencies released a report to the effect that they had been “sprinting” to catch up on blockchain developments, that they are concerned by what they see, and that next year they will start writing rules. Plainly, technological development has outpaced Washington again.

Whether crypto assets should be characterized as securities, commodities, money or simply as property is not clear in present day America.  Will entrepreneurs continue to create digital assets and will investors buy them if their legal status is in doubt?  The SEC mantra is “come talk to us,” but the crypto asset projects actually approved by the SEC are precious few in number, and SEC approvals are not timely. We have clients that have run out of runway while waiting for SEC approvals. In decentralization as in desegregation, justice delayed is justice denied. The recent experience of Coinbase in attempting to clear its “Lend” service through the SEC, only to be threatened with an SEC enforcement action (but no explanation), has caused other industry participants to question the utility of approaching officials whose doors might be open for polite conversation but whose minds seem to be closed.

Similarly, DAOs are a path-breaking form of business “organization” that are not well understood. They are not corporations. Should they nevertheless file and pay taxes, open bank accounts or sign legal agreements? If so, then who would have the power or duty to do that for a decentralized autonomous organization whose very existence decries the need for officers, directors and shareholders? The globally significant Financial Action Task Force, in its recent guidance on “virtual assets and virtual asset service providers,” called on governments to demand accountability from “creators, owners and operators,” as it put it, “who maintain control or sufficient influence” in DeFi arrangements, “even if those arrangements seem decentralized.” Some observers have characterized the FATFs guidance as an attempted “kill shot” targeting the heart of DeFi.

This, too, we know: SEC Chair Gensler has his eye on DeFi. We know that because he has said so, repeatedly. Trading and lending platforms, stablecoins and DeFi are the priorities that he mentions. SEC FinHUB released a “Framework” for crypto analysis that includes more than 30 factors, none of which is controlling. That framework is unworkable because it is too complex and uncertain of application. Chair Gensler, however, apparently applies what he calls the “duck” test: If it looks like a security, it is one. With respect to Mr. Gensler, that simple approach is no more useful than the late Justice Potter Stewart’s definition of obscenity: “I know it when I see it.” Less subjectivity and greater predictability in application are essential so development teams and exchange operators can plan to conduct business within legal boundaries. What we need are a few workable principles or standards (emphasis on “few” and “workable”) that define the decentralization that is at the core of legitimate DeFi and the consumer use of tokens that are not investment contracts. We also need the SEC to adhere to Howey analysis, which it has told us to follow slavishly, and not try to move the goalposts by misapplying the Reves “note” case when it senses that Howey won’t get it the result it craves.

Although futuristic DAOs are a decentralized break from the centralized past and present of business organization, the SEC has seen them before. Indeed it was the “DAO Report” issued in 2017 that began SEC intervention in the crypto asset industry. The DAO criticized in the DAO Report was unlike the DAOs seen today for a variety of reasons, including these: that DAO was a for-profit business that promised a return on investment, similar to a dividend stream, to token holders; and the token holders didn’t control the DAO. “Curators” controlled it, by vetting and whitelisting projects to be developed for profit. DAO participants necessarily relied on the original development team and the “Curators” to build functionality into the network. That sort of reliance on the managerial or entrepreneurial efforts of others is absent in a latter-day DAO whose participants can avail themselves of a fully functional network without reliance on the developers and without delay. It is earnestly to be hoped that the SEC will recognize these critical differences.

* * *

Louis Lehot is an emerging growth company, venture capital, and M&A lawyer at Foley & Lardner in Silicon Valley.  Louis spends his time providing entrepreneurs, innovative companies, and investors with practical and commercial legal strategies and solutions at all stages of growth, from the garage to global.

Patrick Daugherty is Louis’ partner in Chicago. A corporate securities lawyer by training, he spent 35 years practicing the law of money (IPOs, ETFs, M&A, SEC reporting and governance). While he still does that, 5 years ago he went down the rabbit hole of crypto assets and he now devotes himself to the law of the future of money.


Automotive Logistics Solutions and Transport Services In 2022

Have you ever wondered about the processes that go into delivering your vehicle to you? Rest assured there is a lot that goes on in automotive logistics. You might think that it is as easy and smooth as your usual online purchases, but there is a whole process going on before your car can arrive at its final destination.

Automotive Logistics and Transportation Services

First, let us look into what automotive logistics really is.

The automotive supply chain is composed of all stakeholders. This includes companies and individuals that are relevant to the automotive industry, including international and commercial shipping, storing, and even local delivery professionals.

This whole process involves active mobility of all automotive parts, including components and replacement parts, and final products. Furthermore, the active involvement of organizations such as maintenance and repair providers is also essential in making the whole chain operate successfully. Services of such organizations like Autobedrijf Geesteren play an important role in maintaining the quality of our vehicles. They provide their expertise in making sure that vehicles are in the best condition at all times.

Once you receive the car, there is the maintenance aspect by car service experts. If you’re in the transport industry you will understand why you need professional services. Keeping the vehicles in top running order will be critical.

The automotive industry has long been one of the most profitable industries. So, in 2022, it is expected to even grow bigger as new technology is introduced.

Below are some of the things we can expect from this industry.

Automotive Logistic Forecast 

2020 and 2021 experienced major disruptions due to the Covid-19 pandemic. Some companies had to shut down, thereby affecting supply. Social distancing and quarantines made it impossible to continue work as usual. But now, the world is starting to adjust back to normal.

While there may not be a full return to normalcy anytime soon, things are looking up. We can expect interesting trends and solutions to come into play and automotive industry players have a lot to look forward to.

The auto dealer forecasts an increase in demand for transport as operations resume. There is also an opportunity for partnerships with logistics companies. The challenge will come in ensuring timely deliveries and reducing lead times.  

But that’s not all. The automobile industry faced a slowdown during the outbreak of the pandemic. There was a disruption in the manufacturing and supply chain of automobiles. Thankfully, 2022 may see the resumption of services. There is great positivity in the sector as players gear up to fill in any gaps.  

Autonomous Vehicles to Make an Impact

The interest in autonomous vehicles is not new. But, the focus has largely been on the consumer, rather than the logistics sector. The impact of such cars in the transport sector is gaining interest. Major logistics companies like UPS and DHL are making a foray into determining the viability of autonomous delivery cars. The companies see benefits in terms of higher efficiency and a reduction in operational costs.  

Autonomous vehicles can take care of a significant challenge in the supply chain. The American Trucking Association estimates a shortage of about 80,000 truck drivers. The situation is so dire that it could be twice that number by 2030. Lack of drivers means goods do not reach the shelves or customers. It is a great concern that needs addressing. But, therein lies the opportunity to look for sustainable solutions. Autonomous cars may free up the dependence on human labor.  

Investor Interest in Innovations Is Increasing 

Autonomous trucks are generating significant interest amongst investors. As of 2019, they have injected $11 billion into startups working on autonomous trucks. One such company is Aurora that is on track to go public.

Other startups include Embark Trucks, Plus and Simple, Waymo, and Locomation. And, traditional truck makers and auto parts dealers are not taking chances. They understand the direction the industry is going. That is why many are entering into partnerships with tech companies.   

It will be interesting to see whether the industry can have fully self-driving trucks. It might not happen within 2022, but we can expect plenty of reports on pilots or demonstrations from the startups.           

Role of the Internet and Artificial Intelligence 

Internet-connected vehicles will become more commonplace going forward as connectivity enhances communication. Drivers can get information on road safety, weather, road congestion/condition, accidents, or speed limits.  

Remote diagnostics and system updates will be easy with vehicle-to-cloud connectivity. Companies can monitor and get real-time data on vehicle location. Such information increases security and allows for the prediction of arrival times. The Internet of Things (IoT) will impact every step of the supply chain. It will enhance communication between manufacturers and logistics companies.   

Artificial intelligence is already part of the automobile manufacturing industry. The applications are numerous including supply chain optimization and vehicle assembly. AI also takes care of mundane, repetitive tasks. The teams can focus on other core areas. These include research, innovation, and design.  

Yet, all those functionalities do not uncover the full potential of AI in the automobile industry. The technologies have a significant role to play in predictive monitoring, quality control, and early detection of defects.  

AI allows teams to collect data that improves the decision-making process. Logistics companies can use such to make predictions — like best carriers or modes of transportation for maximum reliability and profit. Auto companies can forecast demand by understanding the customer’s purchasing behavior.  We predict a future where AI commands a much larger space in the industry. 

Overcoming Logistics and Transportation Challenges

As the world moves to 2022, those in the logistics and transport sectors must overcome several challenges. The pandemic has some great lessons to teach, including the need for better preparedness through solid contingency plans.

Creating agile solutions must take center stage as we move closer to the new year. The sector has to look into ways to cut down costs, and quick solutions are available in things like process automation and the use of AI. Data analysis can, for instance, help with route optimization. Real-time data provides road condition information while truckers can take the best routes to ensure they meet deadlines. AI will improve efficiency thus cutting down on production times. All these benefits will trickle down to the end-users. 

Innovations like autonomous cars will increase efficiency. They also provide a contingency plan to avoid challenges like driver shortage. Industry players must work together to come up with sustainable solutions.  

Technologies like blockchain may provide a solution to fraud cases. Transport and logistic companies can manage inventory better. The technology does not allow for data alteration, without raising a flag.

And, the real-time insights will make it easier for the companies to communicate with customers. Efficient inventory tracking and management will enhance operations all around.  

Final Thoughts

2022 will be a time for recovery for many industries. It is clear that the pandemic will cross over into the New Year. The good news is businesses are stabilizing once again. There will be greater adoption of technologies like IoT, AI, and blockchain. The aim is for higher efficiency at lower costs.

The automobile and transport sector has a lot to look forward to. Autonomous vehicles may hit the streets in a big way. Perhaps the most exciting will be seeing a self-driving truck. With the level of interest amongst startups and investors, it may happen sooner than we can predict.


EDI’s Role and Evolution through Technological Advances

Designed to automate the processing of information in a “zero paper” perspective, electronic data interchange (EDI) has not stopped moving forward since its inception. Thanks to the numerous advantages it offers in terms of business collaboration, it has become a seemingly indispensable tool within companies. But on a concrete level, what is EDI? How has the technology evolved over the years? Let’s look together at the uses of EDI over time. 


How EDI works: definition and regulatory context


What is EDI? 

In principle, electronic data interchange (EDI) can be likened to a dialogue between two computers and pursues a very simple goal: to exchange electronic documents between trading partners. By replacing paper document exchanges, electronic transactions have made it possible to significantly reduce human intervention. From this point of view, EDI, therefore, offers companies numerous advantages:

-Greater speed and reliability in processing information

-Reduction of operational costs

-Reduced errors and improved relationships between trading partners

For the exchange of data to be structured, it is essential to adopt a common standard recognized by the parties.

The format matters

Inevitably, along with electronic data processing comes the need to use a standard format that enables the system to read and understand the documents received. This format defines the type and form of the expected information, for example: integer, decimal, dd/mm/yy, etc. In this way, it is possible to share a common language used by the sender’s computer system and that of its recipient.

EDI standards 

There are numerous EDI standards, including ANSI X12, UN-EDIFACT (and its many variants EANCOM, GALIA…), VDA, TRADACOM, etc., and each of them has defined its own syntax and data dictionary. New standards based on the XML metalanguage have since been added to these historically popular standards, just as has been the case with HL7 industry standards used in healthcare or generic frameworks such as UBL, eb-XML, and UN-CEFACT. In addition, each standard includes numerous variants such as ODETTE or EANCOM for EDIFACT, resulting in ANSI version 5010 or EDIFACT version D12, Release A.

Before companies can exchange their electronic documents, they must therefore choose a common standard and version. Most of the time, they then use an EDI translator to automatically convert data from internal software or an application service provider.

Internet and XML metalanguage put EDI to the test

In the last decade, the overwhelming spread of the Internet and XML metalanguage have had a considerable impact on EDI. EDI/B2B software houses have taken advantage of these technological advances by aiming to facilitate the use of this tool within companies. In addition, all recent developments in EDI interoperability standards are based on XML syntax and use API-type exchange protocols.

EDI emerges as an online service 

The first commercial offerings of outsourced EDI type became popular in the early 2000s. These platforms had the advantage of outsourcing all EDI exchanges to external companies, regardless of the partners, systems and file formats involved. SaaS (Software as a Service) therefore made it possible to eliminate the many obstacles that held back EDI implementation.

EDI in Saas greatly simplifies the uses of this new technology. It can be used without major investment, to the great benefit of cost optimization. You can send or receive messages directly in the format of your ERP without the need for resources or an in-house EDI expert.

B2B integration: what’s the future for EDI? 

By automating the inter-company core business, B2B integration allows different stakeholders (customers, suppliers, business partners) to work more streamlined and efficiently.

Also known as B2B gateways, these integration solutions differ from the first generations of EDI platforms in that they bring a general, rather than a technical, view of the core business. By ensuring that different formats are taken care of, and multi-protocol transmission is possible, these B2B gateways allow you to model your core business processes and provide tailored monitoring. All of a company’s complex processes are thus integrated into a single platform. In addition, these B2B integration solutions can be offered on-premise for on-premises use, or in the cloud and thus be accessible from anywhere, such as Generix EDI Services.

Although process management or data processing engines are generally open to all use cases and formats, some EDI service providers have chosen to verticalize their solution for certain core businesses – this is what is happening in banking, healthcare, and supply chain. This allows them to speak the same language as the users and focus on each industry’s practices regarding data format, process type or security challenges.

Undeniably, the uses of EDI have evolved greatly since its inception, particularly due to the technological advances made since 2000. Thanks to APIs and blockchain, there is no shortage of prospects for further evolution, making EDI more than ever a solution of the future that can improve the efficiency of multi-company collaboration.

Generix Group North America provides a series of solutions within our Supply Chain Hub product suite to create efficiencies across an entire supply chain. From Warehouse Management Systems (WMS) and Transportation Management Systems (TMS) to Manufacturing Execution Systems (MES) and more, software platforms can deliver a wide range of benefits that ultimately flow to the warehouse operator’s bottom line. Our solutions are in use around the world and our experience is second-to-none. We invite you to contact us to learn more.

This article originally appeared here. Republished with permission.


Sales Digitalization Trends in the Logistics Industry

The logistics industry across the globe is entering a new era. The accelerated development of digital technologies, combined with recent pandemic events, is the main catalysts for this change. With an increased demand for mobility and remoteness, digitalization is affecting all transportation segments, including sales processes that were firmly rooted in traditional procedures. As a result, companies worldwide are following sales digitalization trends in the logistics industry. They gather, process, and organize large volumes of information and work on making them easy to understand and use.

Current and future sales digitalization trends in logistics

This emergence of digitalization across various fields is bringing a lot of new players to the market. Once primarily dominated by large businesses, the transportation industry is experiencing a large influx of smaller distribution companies. The rise of modern, dynamic, remote-focused, and customer-oriented companies is now creating high competitiveness, which calls for a range of changes, from marketing to sales procedures, for many. The sales funnels need to go through a complete transformation to improve business operations.

What changes in technologies will have a breakthrough impact on the business now and in the next few years? Here are several sales digitalization trends every logistics company should be aware of:

-Online sales and automated pricings

-Shifting the focus to customer journey

-Automatization of procedures (AI)

-Customer acquisition changes

-Blockchain efficiency

Online sales and automated pricings

More than half of logistics companies are establishing online sales processes. However, not all the steps are touched equally. One example is the ability to provide online quoting and price estimates. Previously, they served more as an approximate estimate based on a specific set of static rules. Followed later by calls or contacts in person for negotiations. But, the ongoing digital sales revolution calls for a more dynamic solution. In general, by considering the type of goods, average delivery time, prioritization of shipments, and overall costs, the sales departments need solutions to provide instant and more precise results.

One way to solve this problem is to use dynamic automated pricing engines. They will collect real-time data by analyzing and combining different resources. Only then will you be able to successfully forecast and derive instant and precise rates. More likely, something similar to the software solutions airline companies are using today.

Shifting the focus to customer journey

The future of sales lies in their ability to focus on the customer journey. So far, it’s been proven multiple times that relationships with customers are what drive the best results. In essence, this requires specific tools like Customer Relationship Management (CRM) software solutions, which will allow you to better manage current and potential customers and communication with them. You will be able to gather behavioral and other data to help you increase sales through better customer service. In addition, CRM allows you to track and trace a variety of data – everything necessary to identify patterns so you can predict customer preferences. And prevent potential issues in the supply chains. There are also IoT tracking and tracing tools logistic companies can use to monitor shipments on both ends. Allowing such transparency will increase your company’s credibility, improve procedures, and make the transportation process more profitable.

Automatization of the procedures (AI)

Dealing with new technologies on a larger scale is never easy. Many companies experience difficulties when they need to adjust new salespeople to the changes. Fortunately, the training process can be much easier with the help of digital solutions. With Artificial Intelligence (AI) available today, we can automate many previously manual procedures, making the entire training and working system more efficient and less time-consuming. Rather than investing a lot of resources into slow mentor-like coaching, sales can use the capabilities of automation through upgrading their infrastructure and technology.

Another aspect of why AI is much better to focus on lies in these systems’ additional functionality. Features like tracking finances, anomalies, delays, and better delivery planning and predicting will reduce the overall logistical risks.

Customer acquisition changes

Like for many other industries, the logistics salesforce has to follow new arising trends in customer acquisition. This is the use of social media and other alternate networks. You can increase your business operations and provide better customer relations by using these digital platforms for engagement. Previously, social media channels were the mere focus of marketing teams. However, the need and goals of marketing and sales have to align and combine perfectly to give sales a chance to improve their operations. Whether we like it or not, this shift to social network communications is establishing itself as more than just a place of entertainment for customers. Active publishing means more quality leads for your sales in the future.

Blockchain efficiency

In addition, blockchain technology solutions can make your logistics process more effective. And improve your brand image as a whole. By allowing your customers to follow the delivery, you will increase the transparency and credibility of your services. It’s time effective and creates a better customer experience. Everything you will need to acquire more loyal customers.

Adopting all the digital solutions in your sales process doesn’t come without challenges, especially for older, larger, and more established logistics companies. When everything is firmly rooted in traditional approaches, transforming the entire business model is complex. Fortunately, scaling everything across your salesforce is everything but impossible. If you follow the best sales digitalization trends in the logistics industry, you can easily remain competitive in this new industrial revolution that is shaking the transportation world.


Dave Atkinson is currently working with the Best Movers in Florida on providing helpful information and guidelines for researching, improving, and planning the moving business. His writings can be used by both transportation companies and their customers to better understand advanced technologies in logistics processes.


What Should Crypto Traders Be Ready for in 2021?

There is still much to explore in the staying power of cryptocurrency. While its previous peak in 2017 made waves, it slightly went off the radar for a few years since then; until 2020. The shift towards the further digital transformation of business processes due to the global pandemic has renewed interest in it, peeking up to 63% gains in November according to InvestorPlace.

Decreases and Increases in Bitcoin Price

Experts point out that the volatility of cryptocurrency is comparable to the gold rush back in the 1850s. There’s really no telling what’s going to happen next. The main difference, however, is there was a lack of data sharing and analysis back then. Today, we have various platforms and tools to monitor and examine the current activity in real-time.

For instance, we know through CNBC updates that Bitcoin hit a record high of above $23,000 this December and that most of the investors are not solely made up of retail investors anymore but billionaires and other investing experts and pioneers like Stanley Druckenmiller and Paul Tudor Jones.

Viral Cryptocurrencies in 2020

Here is a quick look at the cryptos that ran viral this year:

Bitcoin (BTC). Bitcoin remains to be at the top of the game and is still rising. Investing analysts expect that it will still continue to dominate the market in the years to come.

Ethereum blockchain network’s native cryptocurrency probably still has a long way to go before it reaches Bitcoin’s level of recognition and reputation. However, we certainly believe that this standing won’t be for long given its current high demand. Its secret lies behind its flexible and widely customizable applications.

Ripple (XRP). Finally, there’s XRP, another leading cryptocurrency tied in second place with ETH. Again, it is currently in high demand thanks to its popularity amongst leading financial institutions.

Why Some Cryptos Succeed and Others Don’t

There are undoubtedly other cryptocurrencies that are on the rise much like the ones aforementioned. However, there is still a considerable number that fails. In fact, there are currently almost 2000 entries listed as “dead coins” at Coinopsy.

They have also listed some of the possible reasons behind their demise. Among the leading reasons are:

The lack of reputation. While there are benefits to having the support of “big finance”, this transition also has a major downside.

They can potentially cripple cryptocurrencies from humble beginnings, especially those lacking renowned developers to back them up.

The lack of resources. We’re not entirely surprised why bigger financial institutions are thriving. Sometimes, they simply have the resources to invest in the needed infrastructure to make a cryptocurrency operational.

Even basic services or financial products like a cryptocurrency loan will already need a lot of financial capital to launch. This is also the reason why a lot of cryptos are simply left abandoned or neglected.

The abundance of schemes. Finally, the lack of resources probably won’t be an issue if there are more investors to start with.

Unfortunately, there is still a (rather well-founded) stigma against cryptocurrencies. In fact, just last year there were executives running a Nevada-based firm who was charged for running an $11 million Ponzi scheme.

What We Can Expect in 2021

We are expecting a very good outlook next year, though.

The added interest and the support of big finance can pave the way for stricter regulations that will benefit both investors and developers (regardless of the scale).

It will also encourage more clients that can hopefully sustain even smaller institutions.

Classic Cryptos vs Prospect Tokens

Another factor that we also expect to change next year is people’s lack of understanding of these new forms of currency. For instance, cryptos, altcoins, and tokens are often used interchangeably despite their differences (that further adds to the confusion between these terms).

In a nutshell, cryptocurrency is digital currency while altcoins are independent cryptocurrencies that are recognized as an alternative to the classic currency, Bitcoin (hence the name). Lastly, tokens are an entirely different form of currency altogether. Think of a token as a unit of value within a certain organization that is also supported by a blockchain.

Considering tokens as an investment is a good idea if you want to maximize your earning potential. Think of them as similar to reward points that have various functions. For instance, they can be made to offer security, a form of ownership, or provide extra services.


Cryptocurrency is still in its infancy. Tokenization is even more so. We can still expect a lot of improvement in the system.

However, understanding how digital currencies work certainly holds a lot of insight into how the landscape of the global economy and investing will inevitably shift in the future. And who knows? Maybe this future might not be too far off. Maybe this significant shift happens in 2021.


Lidia D. Staron is the Head of Content at As a financial advisor and former financial planner at an insurance company, she knows that life is full of major events and challenges. She enjoys helping people navigate through important financial decisions while avoiding common mistakes.