Decentralization, although its most commonly thought-of use case is cash transfer, is a concept that has begun to be voiced in every aspect of life.

The fact that data belonging to us, from family information to our health history records, can be stored without any intermediary explains how comprehensive this subject is.

It is possible to list many of its applications by giving examples from the supply chain. Let's examine this subject in a little more detail under two subheadings: "payment flow and tracking" and "traceability and document tracking".

Payment Flow and Tracking with Blockchain

One of the most key issues in the logistics sector is payment execution and cash flow tracking. The supply chain carries out these transactions through banks that have proven themselves, just like applications in almost every sector.

These institutions have a hierarchy among themselves and within themselves. If a disruption occurs in any of the structures they have created in this flow and the flow cannot be maintained, the transaction cannot be performed. Banks charge commissions based on the transactions made by institutions and then move the payment. It takes a certain process for the money to credited to accounts.

In blockchain technology, however, cryptocurrency transfers carry out the transaction without the need for such a flow because they are in a decentralized structure. The necessary transaction information is stored in encrypted form, and each is approved at the moment of the transaction.

Thanks to this complex network structure, it is secure, and commission rates are low because there is no established organization. Cash transfer is done quickly depending on the cryptocurrency and infrastructure used. Today, various cryptocurrencies have emerged for the logistics sector for this purpose. *TEU token and *Shipchain can be given as examples.

Traceability and Document Tracking with Blockchain

One of the bleeding wounds in supply chain management is document flow and tracking. One of the most important issues that blockchain technology brings to the supply chain is transparency. Every movement in a commercial sense to be made with smart contracts is perceived as a node and connected to the flow.

Thus, during the transportation of a good, paper transfers and confirmation transfers created by conventional methods become fast and secure, increasing traceability. At the same time, companies can become transparent in this area by integrating their insurance processes with the blockchain infrastructure. Bittrust technology can be shown as an example of this.

In summary, blockchain technology, which has started to be discussed a lot today, has begun to make rapid progress in the field of supply chain and lead the transformation of this sector.

As Navlungo, we are strengthening our infrastructure in this context by focusing on technology studies so that cargo tracking, document tracking, and workflow transactions can be carried out with a blockchain-based structure.