A logistics company based in Russia, Infotech Baltika plans to develop a blockchain-based port system management. A collaboration has been established between a logistics company with a blockchain start-up, Iconic in order to make the blockchain-powered solution named Edge.Port, it will help to reduce the time spent on port operations from four hours to 25 minutes.
A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.
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