A decentralized cargo tracking system based on the Waves Enterprise blockchain or a major oil company
Geographic distribution of oil extraction is a significant challenge for companies, since it complicates logistics processes and leads to the need to organize a complex supply chain. Interaction of several parties requires division of areas of responsibility and effective resolution of disputes when they arise.
The absence of intellectual control of some parameters in the logistics arena presents a problem for the industry and can lead to costly and time-consuming claim resolution efforts that paralyze production processes.
A solution based on the Waves Enterprise platform is a business app that collects GPS trackers installed on vehicles and cargo. Data from the trackers is processed and written to the blockchain in the form of transactions. Any discrepancies, such as deviating from the itinerary or removing cargo from a vehicle, are automatically registered by a smart contract.
The solution enables not just real-time monitoring of cargo location but also fosters confidence that data cannot be altered by any of the participants.
The system is based on the following components: