Proposed Workflow and Conceptual Implementation for Logistics Automation Using Block Chain Technology

Abstract

Digital currency a well-known term in past few years that grabbed the attention all over specially in financial sectors. Bit coin is a modern name use for digital currency in today's world. Many names can be found in the market but Bit coin was first to show trust in digital currency and adopting it as a legal currency. Transactions made using block chain are well secure and transparent to user for monitoring. All signatures are stored in a distributed ledger that keeps the record for transactions happened. Decentralized network is use in block chain technology that connects all the nodes in a network. In this paper, the concept of block chain technology has been incorporated to improve the logistics process using secure digital currency and automate the payment process using bit coins and eliminating third parties interactions. Proposed workflow and conceptual model will help the supply chain management for secure and monitored delivery of goods to end customers. Model will provide advantages for logistics department that includes tracking, transactions updates, transparency, less documentation, on time delivery etc. SHA 256 is used in hashing for data encryption. Customer can also monitor their ordered material status. Proposed conceptual model can be used for all kind of shipment methods i.e. by air, by road, by sea. Paper includes comparison table that will highlight importance of block chain technology.