Alessandro Bianchi says Non-Fungible Tokens (NFTs) gained widespread popularity in 2021, benefiting investors in millions of dollars. While the previous year was primarily NFT art projects and collections, this year, people are experimenting with the real-world use cases of this novel technology. Among the many industries experimenting with NFT solutions, logistics and cargo shipping will be the most effectively revolutionized.

Non-fungible tokens (NFTs) have the potential to radically disrupt the supply chain sector efficiently and effectively by addressing specific pain points that cause significant delays. Due to the digital footprint and data tracking capabilities of NFTs, these pain points can be addressed.

With NFTs, we could find out information about specific products, like who owns them now, where they are, and what their weight, size, and certifications are. This data is updated in the NFT as the product moves through the supply chain, which is saved on the blockchain network. When the items arrive at their destination, the complete history of the product’s entire journey from its source to delivery is provided.

Pros of Using NFTs in Logistics and Cargo Shipping

Here are some advantages of using NFTs in Logistics and Cargo Shipping:

• Security: NFTs ensure secure information transmission between supply chain parties. The NFT data is kept on the blockchain network as a smart contract, prohibiting unauthorized loss, deletion, or replication. Each network node stores everything.
• Traceability: When dealing with food, pharmaceutical products, chemicals, or delicate goods, it’s crucial to know their logistics and manufacturing procedures, where they’ve been, and how long they’ve been there. With NFTs, anyone may get real-time product traceability information thanks to their transparency.
• Responsibility: With NFTs, we can figure out who’s in control of a product at any given moment. To issue an NFT, both parties must engage in a liability agreement. In other words, an NFT cannot be transmitted unless the counterparty agrees to accept it, and items cannot be delivered until the party responsible has acquired the NFT.

The Takeaway – The future of Supply Chain with NFT technology

Blockchain, NFTs, and smart contracts are all new technologies still in the early phases of development. While many sectors, including Supply Chain and Cargo Shipment, are experimenting with this new technology, the future remains unclear. Time will tell if NFT technology will survive to change the supply chain or fail to scale. 

About Chatsworth Securities LLC
Chatsworth Securities LLC is an investment banking firm that has been providing financial advisory services to corporations and entrepreneurs since 1996. Chatsworth advises on both domestic and international M&A transactions, fundraising and capital raises for large and small companies around the globe. Chatsworth has participated as an underwriter in over six hundred public offerings and has raised over $5 billion for traditional and alternative money managers and their funds.

The investment banker Alessandro Bianchi says that in financial services, blockchain has the ability to completely change the structure of banks, modernize stock exchanges and speed up transactions with security. Intermediates in financial services can be eliminated by using blockchain. According to Alessandro Bianchi, blockchain reduces costs and can optimize many processes. With the help of blockchain banks can speed up the reconciliation of documents during factoring. Blockchain provides security during the transactions and allows the banks to gain access to common database of fraudsters to avoid the frauds.

The investment banker says that:

• Blockchain provides fast and safe money transfer
• Blockchain automates the process and process the transactions quickly
• Blockchain ensures the immutability of transactions
• Blockchain has high level of transparency
• Blockchain provides fast delivery of financial services
• It has lower fees as compared to conventional financial service providers

Transparency in international commercial transactions is made possible by blockchain technology, which benefits all parties involved. Public ledgers keep track of the location of products in transit, making this feasible. Blockchain technology may help importers and other parties in the trade save time and money by reducing the complexity of trade financing. The regulatory environment in which financial institutions operate is continually evolving and becoming more complicated. It increases the openness of the financial system, which lowers the likelihood of fraud and corruption. It’s feasible to do rid of complicated workflows thanks to blockchain’s ability to track every transaction. The system ensures data security without involving humans. Already, initiatives on the blockchain are being developed to facilitate the issuance of credit and the identification of clients.

Alessandro Bianchi says that investors may now register accounts with digital advisers and make their own financial choices thanks to the rise of companies in the financial services business.

“It’s inevitable that the tie between blockchain and fin-tech will get stronger as the two sectors become more prominent in the global economy”

Alessandro Bianchi added that that consumer may benefit from this innovation. For those investors who want to avoid hefty fees, blockchain presents a solution for customers to benefit from conventional financial services at a reduced price point. Scammers are flourishing in the digital world, which is taking advantage of the growing online presence of customers. This might be alleviated with the use of blockchain technology. In contrast to conventional banking, payments and money transfers on the blockchain are quicker and more traceable. Information may be intercepted as it travels via several financial intermediaries, increasing the likelihood of fraud. In order to close this oversight gap, cryptographic techniques built within the blockchain may be used.

About Chatsworth Securities LLC
Chatsworth Securities LLC is an investment banking firm that has been providing financial advisory services to corporations and entrepreneurs since 1996. Chatsworth advises on both domestic and international M&A transactions, fundraising and capital raises for large and small companies around the globe. Chatsworth has participated as an underwriter in over six hundred public offerings and has raised over $5 billion for traditional and alternative money managers and their funds.