Amid a growing interest for blockchain technology in global business, banking giant HSBC issued a video explaining how this technology can be used to revolutionise shipping trade. The video comes as HSBC recently completed a trade transaction across two independently built blockchain platforms – merging the financial with the physical logistics of trade.
New York-based shippers association Gemini Shippers Group announced it has joined the Blockchain in Transport Alliance (BiTA), an organization seeking to developing best practices and standards for blockchain in the transportation industry.
Hapag-Lloyd and Singapore-based Ocean Network Express (ONE) Pte. Ltd announced they will join the blockchain-enabled digital shipping platform ‘TradeLens’. This platform is jointly developed by A.P. Moller – Maersk and IBM. Hapag-Lloyd and ONE now join CMA CGM and MSC Mediterranean Shipping Company, both of which recently announced they are joining TradeLens.
The first paperless, instantly financed and fully door-to-door tracked container made its way from Korea to the warehouse of Samsung SDS in Tilburg through the Port of Rotterdam on Blockchain-based platform DELIVER. The Proof of Concept has indicated that DELIVER can support cross-supply chain end-to-end visibility for multi-modal cargo transport via ocean carrier.
Cargo community provider MGI collaborated with Thales to integrate blockchain technology into its Ci5 Cargo Community System, enabling clients act as trusted third parties when key statuses are validated for the release of goods from shipping terminals.
The Russian Ministry of Transport signed a Memorandum of Understanding (MoU) with A.P. Moller – Maersk, launching TradeLens in Russia. The blockchain platform is expected to significantly facilitate international trade, not least by the inclusion of the Port of St. Petersburg, Russia’s main container gateway, as part of the pilot launch.
DNV GL announced its partnership with Authentic Vision to develop its digital assurance solutions for key industries. The partnership represents the need for further innovations that track products throughout their life-cycle, enhance supply chain transparency and increase trustworthiness in the authenticity of consumer products.
TradeLens announced that CMA CGM and MSC are joining the blockchain project. This addition boosts the already extensive and diverse ecosystem of supply chain partners that are part of TradeLens. The companies will promote TradeLens and create complementary services on top of the platform for their clients.
Insurwave Limited, a marine insurance blockchain joint venture company from EY and Guardtime, announced a new agreement with Zhuhai Port Holdings Group to collaborate on the development of frictionless trade processes across China’s Greater Bay Area, and onward into international supply chains.
Representatives from the global supply chain and logistics industry, the world’s largest ports, blockchain start-ups, importers/exporters and civil society collaborated with the World Economic Forum, the International Organization for Public-Private Cooperation, and over 20 governments to accelerate blockchain deployment across supply chains.
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