The one of the most renowned and leading Port Operator in the UK, Associated British Port (ABP) has executed a contract with digital logistics enabler Marine Transport International to create a blockchain based application that can be leveraged for port and logistics activities as reported by Dry Bulk Magazine as on 19th September.
According to the contractual agreement with Marine Transport International, ABP operates in 21 ports by contributing almost 25 percent of the total carrying capacities in Great Britain. The company has started organizing pilot shipments with the help of blockchain technology.
As per the valid source provided by Dry Bulk, each party in ABP’s supply chain activities are not connected with carriers, operators, shippers because all are using different systems. With the new age technology, Blockchain in place, it will streamline the entire process by reducing time on manual scattered data as said by Jody Cleworth, Founder and CEO of Marine Transport International.
He further stated that “with blockchain, we can connect all those systems to ensure data is accurately and quickly shared, helping speed-up and simplify the flow of trade in and out of the UK.”
In June this year, Denmark disclosed its plans to execute blockchain technology to register ships in local ship registers. Amid this, Abu Dhabi Ports’ subsidiary has introduced its own domestic blockchain solutions for logistics activities.
Besides this, in May this year, Fred Smith, CEO for Global Delivery Services, FedEx, reportedly said and elaborated the benefits of blockchain application for supply chains. He further stated that “the technology is the next frontier that’s going to completely change the whole industry.”