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Ocean couriers sign the blockchain alliance

Shanghai – Nine oceanic carriers and terminal operators signed a memorandum of understanding to form the Global Shipping Business Network (GSBN), an open digital platform based on distributed ledger technology.

The new platform aims to establish a digital reference line in the shipping sector to enable digital transformation and collaborative innovation in the sector. It is, in short, a blockchain consortiumand will employ big data analytics, artificial intelligence, the Internet of Things and blockchain technologies to develop the system.

The first application was designed to allow shippers to digitize and organize their dangerous goods documents and automatically connect with interested parties to simplify the approval process. The application is planned to be available in December.

The nine partners are DP World, Hutchsionports, PSA, SIPG, CMA CGM, COSCO Shipping Lines, Evergreen, OOCL, YangMing and CargoSmart.

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