Partnerships and collaborations among players in the T&L value chain, including competitors, are needed to provide the foundation for the ecosystem. Many collaborations, such as Ocean Alliance and Yang Ming or Modern Terminals and TradeLens highlight the importance of partnership in order to achieve efficient operations. As the blockchain provides many advantages to the transportation and logistics, the data offered results to the equivalent value proposition.
Mainly, Clear Value Proposition is when all players see and share the value created from the common adoption of blockchain.
In addition, blockchain should maintain a value proposition that highlights the concerns of the main stakeholders.
Other T&L industry players want to safeguard their position in the value chain: brokers and freight forwarders want to protect fee-related revenues; banks seek to maintain their commissions for issuing letters of credit; and terminals do not want to lose income related to the movement or storage of containers.
Concerning the blockchain ecosystem:
- Importers and exporters offer the production and transport demand to the blockchain, resulting to planning efficiency;
- Freight Forwarders offer access to and view of the market. As a result, they gain transparency and security;
- Carriers and truckers offer to the ecosystem planning and capacity, so they are ‘awarded’ with planning efficiency, transparency and security;
- Terminals update the blockchain ecosystem with data on production and transport demand, gaining planning efficiency, transparency and security;
- Customs provide the regulatory framework, which results to compliance and process efficiency;
- Banks add to the ecosystem credit profile and identity, resulting to compliance, security and transparency.
As a result, a clear value proposition requires all participants to share data and capture the benefits of participation in the ecosystem.