Blockchain Container Completes Maiden Voyage
The Port of Rotterdam has announced that the first paperless and fully door-to-door tracked container, based on blockchain technology, has arrived at the warehouse of Samsung SDS in Tilburg.
Last year Dutch bank ABN AMRO collaborated with the Port of Rotterdam and Samsung SDS on a blockchain trade initiative, DELIVER. The DELIVER concept fuels process automation and provides value for all actors in the supply chain.
Yesterday, they have successfully tracked and instantly financed a shipping container and the Proof of Concept (PoC) phase is complete. The entire journey was paperless and automated thanks to the distributed ledger technology (DLT) based solution.
"ABN AMRO, Port of Rotterdam and Samsung SDS demonstrated that blockchain technology enables interoperability, and that integrated container tracking and tracing, required cargo documentation processing and financing can all be done in a trusted, secure and paperless way," said a statement.
New technologies such as blockchain have the potential to take over supply chain management entirely and disrupt traditional ways of working, it added.
"With the Proof of Concept phase behind us, partners ABN AMRO, Port of Rotterdam and Samsung SDS have signed an extended collaboration agreement for the next phase of the DELIVER project," said the release.
The goal of this new phase is to conduct pilot projects with multiple shippers from various industries operating in different trade lanes, it added.
The ultimate objective is to reach an open, independent and global cargo shipping platform. This will enhance supply chain transparency and efficiency, potentially unlocking millions of euros in cost savings in the long term.