The innovative solution provides a seamless and secure link between stakeholders across the trade community using the electronic ledger system.
Andre Simha, CIO at MSC, said the project should help pave the way for improved documentation flows. Also, it will streamline supply chains for companies. Additionally, he said MSC is open to forming new partnerships. The focus is to reduce delays, improve inventory management, and identify issues faster. Certainly, all parties involved will reap significant cost savings.
Open digital ledger
Blockchain technology acts as an open digital ledger. Trade partners use it to record and extract transaction details with greater security, transparency and efficiency.
Silsal is first unveiled in June 2018. Freight forwarders and their customers get to use it initially. Subsequently, the rest of the trade community is included. This will be as a complementary tool to Maqta Port Community System.