New blockchain platform goals to trace one third of all transport containers globally
Global Shipping Business Network (GSBN) has launched a brand new blockchain-based platform that might doubtlessly observe one-third of transport containers throughout the globe.
The GSBN was based in October 2020 by eight international nationwide freight maritime cargo firms to construct a blockchain platform that digitizes transport processes equivalent to doc issuance, clearance and logistics knowledge.
Members of the Hong-Kong-based non-profit consortium GSBN are stated to “account for one in every three containers handled in the world,” and this will quickly be verifiable on the blockchain as soon as the platform is absolutely utilized.
The GSBN announced the launch of the brand new blockchain platform on Sept. 8 in partnership with Oracle, Microsoft Azure, AntChain and Alibaba Cloud.
“As an independent consortium, it chose a best-of-breed approach to technology to ensure the infrastructure is strong, reliable and highly scalable,” the announcement learn.
GSBN famous that the partnerships have been sought out for geostrategic functions equivalent to Oracle’s international commerce working system and Azure’s service reliability in southeast Asia. Ant Group and Alibaba Cloud can be used for deployment in China.
To guarantee info management by GSBN, the information can be encrypted earlier than being despatched to the blockchain platform which suggests the members can’t entry the information with out authorization. The consortium additionally emphasised that blockchain know-how allows it to collaborate with “disparate and often competing market participants.”
In July the GSBN launched its first blockchain-based software in China dubbed “Cargo Release,” which was designed to hurry up processing time by eradicating paper and storing knowledge on the blockchain.
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Around the identical time the GSBN was shaped in October final yr, two of the world’s largest container carriers in CMA CGM and MSC Mediterranean Shipping Company introduced a full integration onto IBM and Maersk’s TradeLens blockchain platform.
The competing platform provides supply-chain digitizing companies, and the mixing with CMA CGM and MSC introduced knowledge from practically half of the world’s ocean container cargo to the TradeLens community.