The rise of Blockchain and the polarization between core values and technology hype
The global logistics industry is going through a period of profound digital transformation, where emerging technologies are expected to address the inherent limitations of traditional governance systems. Among them, blockchain logistics and supply chain blockchain have become focal terms, representing a potential revolution in transparency and efficiency. According to records from Tan Phat Digital - an in-depth digital transformation strategy consulting unit for logistics businesses - blockchain technology currently plays the role of "trust infrastructure", allowing deep integration into all economic activities thanks to the ability to process high-speed and low-cost transactions.
However, the development of this technology does not follow a straight line, but there exists a large gap between macroeconomic forecasts and actual application at businesses. On the one hand, leading market research organizations post huge growth numbers; On the other hand, the industry's iconic projects face stagnation or dissolution, creating a multi-faceted picture of the "truth" and "hype" of distributed ledger technology.
Detailed growth forecast and Blockchain Logistics market segmentation (2025-2035)
Overall market size: Estimated to reach 7.91 billion USD per year 2025 and is forecast to explode strongly, reaching 2,730.54 billion USD by 2034 with an impressive compound growth rate (CAGR) of 91.44%. The main impact is the formation of cross-border digital infrastructures.
Supply Chain Finance (SCF): Market value reaches 2.4 billion USD in 2025 and is expected to increase to 34.6 billion USD by 2034 (CAGR 39.4%), helping to reduce fraud and optimize working capital for businesses.
Chain logistics cold: Reaching a scale of 4.5 billion USD in 2025 and forecast to reach 35.96 billion USD in 2035 (CAGR 23.1%). This segment helps businesses strictly comply with pharmaceutical and food regulations.
Track & Trace: Currently accounts for 36.2% of the market share and is forecast to absolutely dominate with a CAGR of 28.3% due to the need for real-time transparency of goods journeys.
Platform segment: Occupies the proportion 55.3% market share by 2025, acting as core infrastructure with the participation of giants such as Microsoft, SAP and IBM.
The nature of the "Real Problem": Irreplaceable practical values
Overcoming rumors about blockchain will completely replace old infrastructure, the practical value of this technology in logistics focuses on three main pillars: immutability of data data, automation through smart contracts, and the ability to create a single source of truth for multilateral participants.
Transparency and traceability in the modern supply chain
In traditional models, data is often fragmented into "data silos", leading to a lack of synchronization. Blockchain solves this problem by distributing a single ledger where every transaction is recorded in real time and cannot be edited.
This real-world value is especially important in cold chain logistics and the pharmaceutical industry. Combining blockchain with Internet of Things (IoT) devices allows recording temperature, humidity, and location directly to the ledger. Instead of spending weeks reviewing paperwork when there is a problem, businesses can trace the origin of a shipment in just a few seconds.
Smart contracts and financial process optimization
Smart contracts are pieces of code that automatically execute terms when conditions are met. In logistics, they can automatically disburse payment as soon as the shipping unit updates the "successfully delivered" status, eliminating the need for intermediaries and minimizing administrative costs.
Comparing operational efficiency between Traditional Process and IoT Integrated Blockchain (2025)
Traceability Time: Reduced from 6-7 days in traditional process to just 2.2 seconds (more than 99% improvement).
Data Inaccuracy/Fraud Rate: Reduced from 5-10% to less than 0.1%, virtually eliminating all data accuracy risks.
Document processing costs: Save 70-90% of costs, from an average of 50 USD/paper bill of lading to 1-2 USD for each digital transaction.
Speed of international payments: Switch from a 3-5 working day process to an "instant" state as soon as the right conditions are matched copper.
Data synchronization latency:Improved from more than 8 hours to less than 2 seconds, ensuring real-time for the entire chain.
Analyzing the "Hype" phenomenon: The boundaries of TradeLens' hype and failure
The closure of TradeLens – a joint venture between IBM and Maersk – in early 2023 was A valuable lesson about how superior technology cannot overcome industry structural barriers. This project failed because it focused too much on centralization in the name of decentralization, causing competitors to worry about data security.
Instead, the trend in 2025 is shifting to non-profit alliance networks (Consortium) like GSBN. Tan Phat Digital evaluates this as a more realistic direction when focusing on digitizing specific processes such as electronic bills of lading (eBL) based on open standards and neutrality.
Blockchain Logistics in the Vietnamese market: Current Situation and Opportunities 2024-2025
Vietnam is facing a great opportunity to take advantage of blockchain to improve national competitiveness. However, the actual application rate currently stops at 10-15%, mainly at leading enterprises.
Typical Blockchain Projects and Application Index in Vietnam (2024-2025)
Agridential Project (Vietnam Blockchain Corp): Specializes in traceability of ST25 rice and mango. Results: Successfully deployed, helping agricultural products penetrate difficult markets such as Japan and the EU.
ePort / eDO system (Saigon New Port - SNP): Digitize delivery orders and port procedures. Result: Contributing to 65% of logistics businesses increasing technology application in 2024.
SmartPort / SmartGate platform (Gemadept): Optimize port operations and network connection. Result: Helping businesses meet Green Port GPAS by 2024.
Case Study Mining (Vietnam Coal): Coal supply chain management based on the Hyperledger Fabric model. Result: Achieved processing speed of 350 transactions per second (TPS).
Traceability App (Mekong Delta): Trace the origin of exported fruits using QR codes attached to blockchain identifiers. Result: Ensuring transparency for agricultural products from the source.
Practical challenges hinder the spread
Financial barriers: More than 90% of domestic logistics businesses are SMEs with capital of less than 10 billion VND, making blockchain infrastructure investment an overwhelming burden.
Data fragmentation: Data is still in separate "silos", the top links of the chain (farmers, small garages) are not in the habit of digitizing.
Expert shortage: Scarcity of human resources with knowledge of both logistics operations and blockchain techniques.
Waiting mentality: Businesses are concerned about compatibility with old ERP systems and the rapid change of technology. technology.
See more: Blockchain Use Cases
Blockchain vs. ERP: Evolution from rivalry to convergence in 2025
By 2025, the boundary between Blockchain and ERP has shifted from competition to convergence. ERP is strong in internal management, while Blockchain plays the role of a "trust layer" connecting different organizations.
Decision matrix for choosing a solution: Centralized ERP vs. Distributed Blockchain
Internal inventory management: ERP has the absolute advantage because of optimal cost and speed; Blockchain is considered slow and unnecessarily expensive for this purpose.
Multi-party document exchange: Blockchain is the optimal choice thanks to its transparency and resistance to data corruption; ERP faces many difficulties in controlling external data.
Transaction processing speed: ERP reaches very high speed (over 10,000 TPS); Blockchain is average (1,000-3,000 TPS). Strategy: ERP is used for operations, Blockchain is used for control.
Initial implementation costs: ERP has high licensing costs; Blockchain has very high infrastructure and integration costs. Businesses need to evaluate ROI carefully before deciding.
Attack resistance: Low ERP due to single point of failure; Blockchain is very advanced thanks to data dispersion. Blockchain should be prioritized for sensitive data.
Technology convergence: "Power trio" Blockchain, AI and IoT
Blockchain only maximizes its value when combined with AI (playing the role of "brain" of analysis) and IoT (playing the role of "sense" of data collection). In Vietnam, units like Tan Phat Digital are helping businesses integrate these solutions into Marketing and operations systems to optimize customer experience and supply chain accuracy.
Economic Impact Analysis and ROI Index for Businesses (5-Year Cycle)
License & Maintenance Costs: Traditional model costs about 2.5 million USD; Blockchain model reduced to 1.2 million USD thanks to switching to Pay-per-use - saving 52%.
Loss due to fraud & Disputes: Reduced from 1.5 million USD to 0.2 million USD (86% reduction in financial risk).
Personnel costs for document management: Reduced from 3.0 million USD down to 0.5 million USD thanks to automation, helping to free up 83% of resources.
Added value from green branding: Blockchain model creates about 2.0 million USD in additional benefits by attracting customers interested in ESG standards.
Total expected net profit (ROI): Businesses can achieve an increased ROI of 35%, average break-even time Average 8-18 months.
Typical Case Study on Blockchain Application in Logistics (2024-2026)
1. Home Depot - Payment Dispute Resolution and Inventory Optimization
Home Depot has deployed blockchain to resolve disputes with suppliers due to erroneous receiving data. By creating a single source of truth, the company significantly reduced resources for manual reconciliation and improved inventory accuracy through the integration of barcodes and distributed ledgers.
2. FedEx - FedEx Surround System and International Shipping Documents
FedEx uses blockchain as a layer of security and transparency for high-value shipments. The "FedEx Surround" platform integrates AI and blockchain to track shipping documents and authenticate the origin of goods, helping to minimize the risk of delays at the border due to missing documentary information or suspected fraud.
3. MediLedger Project - Revolutionizing Pharmaceutical Safety (Pfizer, Novartis)
The MediLedger Alliance uses blockchain to comply with the Drug Supply Chain Security Act (DSCSA). The system allows Pfizer and its partners to authenticate returned drug batches immediately, preventing counterfeit drugs from entering the legitimate supply chain, which costs billions of dollars each year.
4. IBM Food Trust - Traceability speed (Walmart, Nestlé)
Walmart has cut the traceability time for products (like lettuce) from 6 days to 2.2 seconds. Nestlé also uses this platform for Gerber baby food products to track multinational ingredients, ensuring sustainability and absolute consumer safety.
5. GSBN (Global Shipping Business Network) - Digitizing global bills of lading
In January 2026, GSBN successfully implemented cross-border cross-platform electronic bill of lading (eBL) transactions (Thailand - China). Alliances of shipping lines such as COSCO and OOCL use blockchain to help reduce operating costs by 20% and shorten cargo release time from a few days to a few hours.
6. Saigon New Port (SNP) - ePort/eDO digital ecosystem
SNP has pioneered the digitalization of the entire seaport process in Vietnam. The blockchain-integrated ePort application allows customers to execute delivery orders 24/7, helping to reduce vehicle waiting time at the port gate and make all service fees transparent, contributing to 65% of logistics businesses increasing technology application by 2024.
7. Agridential - Vietnamese Agricultural Export Passport (VBC)
Developed by Vietnam Blockchain Corp, Agridential issues a unique digital identifier for each shipment of ST25 rice and mangoes in the Mekong Delta. The system records every stage of production, helping Vietnamese products overcome strict technical barriers to export to the Japanese and EU markets.
8. Gemadept - Smart Port and Green Logistics
Gemadept integrates blockchain in the SmartPort platform to optimize ship and container truck routes. Data transparency helps businesses win the Green Port GPAS 2024 award, while significantly reducing carbon emissions by cutting waiting times and operating port equipment with electricity.
9. Vung Ang - Digitizing the Vietnam Coal supply chain
The blockchain model based on Hyperledger Fabric has been applied to manage the coal supply chain in the Vung Ang area. The system reaches a processing speed of 350 transactions/second, supporting control of the volume of coal mined and transported and preventing illegal mining or volume fraud.
10. Sagrifood - Safe closed food chain
Sagrifood has issued more than 35,000 blockchain-based traceability stamps for herbal pork products. Consumers simply scan a QR code to access the entire history from slaughter to packaging, ensuring transparency and increasing customer trust in clean food brands.
Frequently Asked Questions about Blockchain in Logistics (FAQ)
Will Blockchain completely replace traditional ERP systems?
No. The trend in 2025 is convergence instead of replacement. ERP is still very strong in internal process management, while Blockchain acts as a "trust layer" to connect data between different organizations without the need for intermediaries.Why will IBM and Maersk's TradeLens project close in 2023?
TradeLens failed because it focused too much on centralization in the name of decentralization. Rival shipping lines are concerned about sharing sensitive data on a platform directly operated by competitors, lacking a neutral governance mechanism.What is the legality of electronic bills of lading (eBL) in Vietnam in 2025?
Currently, the Electronic Transactions Law 2023 and Decree 137/2024 have officially recognized the equivalent legal value of transactions electronic and digital signatures compared to paper documents, creating a solid corridor for eBL.How much capital do SME businesses need to deploy Blockchain?
This is the biggest barrier. Although there are pay-as-you-go (SaaS) models, investing in IoT sensor infrastructure and human resource training is still a financial burden for 90% of SMEs with capital of less than 10 billion VND in Vietnam.Blockchain helps reduce specific logistics costs through what numbers?
Blockchain helps reduce up to 85% of administrative paperwork and save an average of 50 USD for each traditional bill of lading thanks to switching to a digital format and automating the reconciliation process.What direct impact does Decree 137/2024 have on the logistics industry?
This Decree provides detailed instructions on converting paper documents to electronic data and vice versa, and also stipulates responsibilities for digital intermediary platforms, helping to increase transparency for logistics transactions.What benefits does the combination of Blockchain, AI and IoT bring beyond IoT plays the role of "sense" collecting data, AI is the "brain" of predictive analysis, and Blockchain is the "immutable memory" of storing transactions. This combination helps automate the supply chain with over 95% accuracy.
What is the average ROI when investing in Blockchain?
Large-scale logistics businesses often achieve cost savings of 25-40% and can break even after about 8 to 18 months of implementation thanks to minimizing errors and fraud.Does Blockchain help solve the "Green Logistics" problem?
Yes. Blockchain allows carbon footprints to be recorded throughout the supply chain in an unforgeable way. This is a competitive advantage when markets like the EU begin to apply carbon border taxes.Why is there a need for a Consortium instead of a single platform?
A coalition model like GSBN ensures neutrality and non-profit, helping competing businesses trust and share shared data without fear of being controlled by any one party.How is data security on Blockchain guaranteed?
Data is encrypted. encrypted using the SHA-256 algorithm and protected by a consensus mechanism. In permissioned networks, the risk of data tampering is almost zero (0% tampering incidents).What effect does CBDC (Central Bank Digital Currency) have on logistics?
CBDC will eliminate intermediary banks in international payments, reduce transaction fees to nearly zero and shorten payment time from days to seconds.What does Blockchain support cold chain logistics?
It records temperature and humidity data from IoT sensors directly to the ledger. All changes are recorded in real time, helping to automatically trigger warnings or insurance compensation if goods are damaged.How to integrate Blockchain into the old ERP system (Legacy)?
Businesses often use a hybrid model (Hybrid), in which the old system connects to Blockchain through API ports to record the most important transactions without changing the entire IT architecture.What does Tan Phat Digital support businesses in this roadmap?
Tan Phat Digital advises on comprehensive digital transformation strategies, establishes effective management and measurement systems (WMS, TMS) integrating new technology, and supports the operation of personalized digital marketing campaigns.
Blockchain in logistics is an evolutionary step in digital infrastructure but requires a pragmatic approach. Businesses need to clearly identify "pain points" that need to be addressed instead of just following trends. Tan Phat Digital recommends that businesses focus on building a cooperative ecosystem, taking advantage of legal levers from the Law on Electronic Transactions 2023 and Decree 137/2024 to soon convert to electronic bills of lading, thereby realizing Vietnam's aspiration to become a global logistics center in the next decade. next century.
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