The two entities are working to boost supply chains, including blockchain and automated processes that run on top of them, sometimes called smart contracts.
The institute combines its supply chain expertise to a space that is currently one of the busiest areas of technology – the digitisation of trade finance and the tracking of physical goods using synchronously appended distributed ledgers.
According to Fraunhofer IML, the talking container will become common in the future of global trade. The Internet of Things (IoT) combined with blockchain will make trade faster, more secure and do wonders for working capital management.
Dr. Michael Henke, director of the Fraunhofer IML, said the automation of supply chain management could see smart containers that are able to route themselves and hire logistics service providers, even making payments.
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