On the 16th July, Austrian newspaper
Tiroler Tageszeitung reported that a new blockchain logistics consortium has been founded for the Austrian shipping industry. Managed by EY, members include LKW Walter, DB Schenker, BVL, WU Vienne, standards body GS1 Austria and its digitization subsidiary EDITEL Austria.
The logistics consortium plans to digitize freight documents, such as consignment notes. Storing and sharing these documents on a blockchain saves time and money while also creating trust in an industry susceptible to fraud.
Yesterday’s report claims that the firms could save 12 million sheets of paper by automating around 75 million processes per year.
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