The transportation and logistics industry is experiencing a slow rate of blockchain adoption, according to a survey released by Boston Consulting Group (BCG), Boston, Mass.

The vast majority of respondents (88%) believe that blockchain will disrupt the industry at least somewhat. And, most (59%) believe that the disruptions will take place within the next 2-5 years.

But, nearly three-quarters (74%) say that they are exploring opportunities only superficially or haven’t thought about blockchain at all. The most cited obstacles to wider adoption of blockchain are an absence of coordination among industry players, a limited understanding of the technology and a lack of in-house capabilities.

About the survey

BCG conducted an online survey of global companies in the transportation and logistics industry in September and October 2018 to assess their understanding of blockchain and the progress in the industry’s adopting the technology. The survey’s participants consisted of executives from more than 100 transportation and logistics companies, including air freight, courier, express and parcel, logistics, rail and shipping.