Germany-based EDAG Group has showcased in a new video an IOTA-based completely autonomous, emission-free, real-time tracking logistics process using the EDAG City Bot.
More specifically, the company shows how EDAG City Bot is used at airports. The video impresses with the level of technology, including efficiency with perfect synchronization and real-time process tracking, as well as automated billing and full-service integration into a single software platform. It also reduces accidents, errors, and ejections with the skills to automate precise logistics processes. This can perform various tasks to automate accurate logistics processes.
The Situations Around IOTA Project
Today IOTA is ranked the 24th in terms of the market cap on Coinmarketcap rating with $ 697 million. To enter TOP-20, it will need to increase its market cap to at least $ 200 billion to be able to compete. Recall that once before, the cryptocurrency occupied the 15th rank in the Coinmarketcap rating.
Note, IOTA team is making serious development that could cause significant spikes and allow this project to outperform many others. This is evidenced by numerous videos using IOTA technology at parking, everyday life, etc.
Why Does Logistics Need Blockchain
After the coming of blockchain technology, it was with it that some market participants began to associate the possible modernization of the system.
Blockchain can solve some issues:
- Reduction of workflow and number of actions. Smart contracts can significantly reduce the amount of paperwork and eliminate unnecessary transactions. It is enough to write down the terms of the deal once to wait for their implementation. As a result, all logistic processes will be faster.
- Transparency and complete control. There is a record of the entire path of a product on the blockchain. The data is always available to all participants in the process. If the mail loses documents or someone makes changes to them, all data can be checked in the public register. You cannot change the information retroactively.
- Fewer intermediaries. The participants in the chain can communicate with each other without intermediary services – and therefore without commissions.
- Dispute resolution. A public register can facilitate the resolution of disputes between participants in the transport process. In this case, the record in the blockchain will serve as proof of correctness.
- Quality control. The blockchain can store information about goods, dates, track.
Some market participants are confident that blockchain will be used in the field of logistics since it is impossible to build modern logistics without advanced IT solutions. The technology has industry promise, but it is hampered by legal uncertainty, technical complexity, inconsistency, and carrier intractability.
