European Largest Port Will Test Blockchain
Port of Rotterdam, the largest port in Europe, joins forces with big Dutch bank ABN AMRO and Samsung to test blockchain for shipping. The trail will focus on shipping containers from Asia to the Rotterdam port.
Start pilot #blockchain container logistics by @ABNAMRO, @SamsungSDSNews and port of Rotterdam. Complete, paperless integration of physical, administrative and financial streams. #digitalisation https://t.co/nOD51st3Mo
— Port of Rotterdam (@PortOfRotterdam) 19 października 2018
There is still a lot of space in the logistics sector to use digitisation
ABN AMRO, the Port of Rotterdam Authority and Samsung SDS have joined forces to launch a pilot based on blockchain technology. The primary goal for them is to achieve more transparency and, particularly, more efficiency. Paul Smits, the Port of Rotterdam Authority’s Chief Financial Officer, said:
“Currently payments, administration and the physical transportation of containers still take place entirely via separate circuits. This results in inefficiency as many parties are involved and everything is organised via paper documentation.”
According to Smits, the transportation, monitoring and financing of freight should be as easy as ordering a book.
BlockLab, a special division established by the Port, is responsible for the development of the pilot.
Implementing blockchain technology into logistics
Sanghun Lee, President of Samsung SDS EU/CIS, thinks that blockchain offers all parties in the logistics chain the opportunity to coordinate activities using validated data without central management. Samsung wants to create ultra-efficient logistic solutions. To do so, the tech company uses blockchain, which provides automation.
ABN AMRO will integrate all flows: from the workflow to the digitisation of paper documentation and the financing of handled freight or services. Daphne de Kluis, the Bank’s CEO, said that ‘the ultimate goal is to reach an open, independent and global platform that operates from the perspective of shippers’.
The blockchain technology is often tested to improve international logistics. A few weeks ago, the Port of Valencia announced its plan to create a “smart port”, using blockchain. Earlier this year, Associated British Ports (ABP), the U.K.’s leading operator, revealed it would participate in pilot shipments using decentralized solutions. In April, we reported about new blockchain project in the United Arab Emirates concerning shipping and logistics industry.
What differs the Dutch trial from the others is that for the first time various blockchains will operate together.
Image by VanderWolf Images / Shutterstock.com
If you want to comment this article, visit our Blockchain24.co forum!
The blockchain24.co site shall not be held responsible for any consequences resulting from the use of data contained in the pages of the site.