Hermes Survey Shows a Sizeable Portion of Germany’s Logistical Heads Believe Blockchain Will Enhance Supply Chains

According to a recent study conducted by Hermes, it has been found that more than 1/3rd of Germany’s logistic heads seem to find immense potential in blockchain technology— especially when it comes to improving the way in which “different supply chain systems cooperate with one another”.

More on the Study by Hermes

The research survey essentially took into consideration the opinions of various individuals regarding the disruptive power of blockchain technology. As such, more than 35% of the respondents felt that “blockchain incorporation is the way moving forward” for most big companies. Similarly, another 33% said that big-data too would play a large role in supply chain management in the months and years to come.

In addition to this, many participants also talked about the importance of other niche’ technologies within today’s SPM modules such as:

• Cyber-Physical Systems (56 percent)
• Enterprise Resource Planning systems (46 percent),
• Sensor monitoring and data acquisition systems (44 percent).

Lastly, in companies with more than 250 employees, more than half the managers noted that blockchain could be a gamechanger once implemented properly within existing company structures.

Other Key Findings Worth Considering

Some of the other key findings of the survey include:

• Around 75% of all German conglomerates are of the belief that “cooperation will be crucial to increasing supply chain efficiency” as we move into an era of digital finance.
• A host of security experts believe that blockchain technology is of immense importance when it comes to bolstering data privacy.
• 35% of logistics managers hailing from small level businesses believe blockchain to be important from a security POV.

Final Take

It is worth noting that in the recent past, there has been a massive spike in the interest levels regarding blockchain adoption. For example, over the course of the past 4-8 months, more than nine major terminal operators and shipping companies have gone ahead signed a MoU so as to launch an open blockchain-based platform.