Samsung To Launch A Pilot Blockchain Program For Tracking Cargo Containers
Rotterdam port, Europe’s busiest seaport, is partnering with Dutch Bank ABN AMRO and it division of technology giant Samsung to launch a pilot blockchain program to track marine containers, a press release said on October 22.
The basis of the blockchain pilot will be the Nexledger platform, which was released by Samsung in 2017. It is reported that the Nexledger platform will be linked to the R3 Corda blockchain used by ABN AMRO. This compatibility between different blockchains will theoretically allow all participants of the pilot program to access relevant information related to the tracking of sea containers.
According to a press release issued by the port of Rotterdam on 19 October, tracking cargo containers from China to Rotterdam typically involves 28 different parties, and all data is manually documented on paper, leading to errors and inefficiencies.
The pilot program, which was developed by BlockLab, a subsidiary of the port of Rotterdam, aims to create an “independent and global platform working from the perspective of shippers” and to make tracking of sea containers more transparent and cost-effective.
Creating transparency and efficiency in the shipping and logistics industry is one of the main examples of using blockchain technology.