Blockchain set back, as cryptocurrency failures deter confused freight industry

Fear of cryptocurrencies and confusion over what blockchain really is are two key reasons holding the freight industry back from embracing the technology.

Blockchain infrastructure can make transactions more secure, faster and simpler. But its link to cryptocurrencies, which is what it was originally developed for, has been a setback, as businesses confuse the recent failures of cryptocurrencies with blockchain.

“People still don’t know the difference between blockchain and cryptocurrency,” said Igor Jakomin, chief operating officer of CargoX.

“There is still a long way to go to convince people. They want to be associated with blockchain but not actually to do it. I think businesses don’t understand. They are listening to information about cryptocurrencies failing and that affects potential customers. I tell them blockchain solutions have nothing to…