Using blockchain to cut port red tape

Samsung SDS signed a blockchain-based maritime logistics project with ABN AMRO and the Port of Rotterdam Authority.

Importantly, Samsung SDS plans to complete a pilot project to connect its blockchain platform, Nexledger, with ABN AMRO’s Corda by February next year.

The project objective is to deploy blockchain technologies within the Dutch port authority’s container logistics business.

The pilot project will use blockchain technologies to manage container shipments originating from Asia to the Port of Rotterdam.

Once completed, the result is simplified financial transactions including import and export payments.  Therefore, the parties can share import and export-related documents in real-time.  Moreover, blockchain can also prevent document fabrications or falsifications.

Most noteworthy, this pilot project uses two different blockchain platforms.  Together they operate to verify the platforms’ compatibility.  ABN AMRO developed one for financial transactions and the other developed by Samsung SDS.

Thereafter, the three parties implementing the project plan to open their cooperative network to global organizations and shippers.  Certainly, it also aims to connect to other blockchain platforms as well.

Samsung SDS implemented a blockchain-based maritime logistics project through a consortium of 38 Korean organisations.  These include companies, government agencies, and research institutes.

Samsung SDS EVP and Logistics Business Unit Leader, Hyung-tae Kim said: “Our consortium-based project, which was implemented in Korea, drew much attention from the European market, propelling us to start this pilot.

“The pilot will serve as an opportunity to further strengthen our competitiveness in the logistics business as well as expand our blockchain platform business to the global market.”

Like this article?

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp
Share on email

Donate to the cause and support independent journalism

Fight against corruption, stand for justice and equality.
Advocating for ethics and transparency in Asia’s maritime industry, we raise awareness through independent journalism.

We believe in the power of individuals to trigger changes and uplift the image of the maritime industry. As such, we publish stories to keep our readers informed to enable them to make educated decisions.

We invite our readers to support the cause and be part of the fight against corruption.

Join our community for the price of a cup of coffee or any other amounts that you wish.

This is a secure webpage.
We do not store your credit card information.



MSC using 30% biofuel blends

MSC has started to use biofuel in its vessels calling in Rotterdam, the Netherlands, to reduce an estimated 15-20% in CO2 emissions.