The Chinese technology company Yuanben and Maritime Silk Road Platform, part of the Chinese group Zhuozhi Logistics, have signed an agreement to provide blockchain services for global maritime transport.
Maritime Silk Road is an Internet-based public reservation platform that operates globally. It has created global logistics networks in Hong Kong, Guangzhou, Shenzhen, Shanghai, Ningbo, Nanjing, Xiamen, Qingdao and Tianjin.
The Yuanben blockchain is a distributed underlying data network that is based on decentralized Trusted Content Protocol (DTCP) to provide fast, efficient and complete closed-loop solutions for reliable, traceable security. By building nodes around the world, the Yuanben project has become a scalable chain of trusted alliances, says the company. The use of smart contracts and encrypted algorithms allows for sustainable interaction of data within the chain, including data transmission security. The Yuanben chain and the "Yuanben DNA" blocking mechanism ensure that the data on the chain are 100% irreversible.
By participating in China's "Internet +" strategy and the "One Belt, One Road Initiative", Yuanben hopes to help more Chinese companies become global.
According to BittPress, Chinese companies have submitted 550 patent applications on blockchain technology in the last decade – far superior to the US and South Korean applications so far.