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.”

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