The government plans to implement an electronic cargo tracking system for Nepal-bound shipments at Indian ports from June in a bid to slash the cost of trading.
The system will keep track of consignments from the time they leave until they arrive at their destination in Nepal. Containers will be tagged with an electronic chip when they leave the port which will allow authorities to keep track of them continuously.
Born from the obscure “bitcoin” universe as a foolproof method to keep track of transactions, and now gaining popularity in the banking and finance world, block chain is emerging in the logistics arena.This once-little-known technology may be a potential solution to the problem of providing transparency in the supply chain while still keeping shippers’ and forwarders’ proprietary information private.
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