Tristar First Logistics Provider to Go Live with Blockchain
Tristar Group CEO Eugene Mayne was invited to participate in a panel discussion at the Future Blockchain Summit held recently at Dubai World Trade Centre.
Tristar has been recognized for being the first logistics company in the Gulf Cooperating Council (GCC) to have a fully live Blockchain platform, which provides customers with full real-time oversight on end-to-end warehousing and transportation processes.
Blockchain technology is being leveraged at Tristar for business relationships as a single point of access for all documents/records, and the managing of trusted data with little or no use of paper.
In an earlier exclusive interview with Transport and Logistics Middle East, Mr. Mayne explained that the difference today versus yesterday is that there is much more visibility in end to end activities and interactions.
Wherever one operates in the world, no matter how remote the location, the ability to see the movement and handling of liquid products is now real time.
Mr Mayne said: “While this was unimaginable only a few years ago, the reality is that logistics players should be driven by the need to collect more data in order to make better decisions that benefit all stakeholders.
“The more intelligence and information gathered, the better the results,” he said.
Mr. Mayne added that as technology increases the visibility in the supply chain, the volume of data increases, this data can be used to streamline supply chain processes.
It can be used to connect a company with existing customers and to find new customers.
We are moving towards a cycle where logistics budgets and decisions will be driven by data gathered, and data projected.