Nine Major Shipping Companies Sign Cooperation in China Import Expo to Build Blockchain-Based Network

[ChainDD report] November 9 (ChainDD) During the First China International Import Expo in Shanghai, nine terminal operators and shipping companies signed a Memorandum of Understanding (MoU) , with the aim to establish a consortium which will develop a shipping industry blockchain alliance-- Global Shipping Business Network (GSBN), and to launch an open digital platform based on distributed ledger technology, according to The Maritime Executive’s report.

The report said Hongkong-based software solution provider CargoSmart initiated the formation of GSBN, and its first application is scheduled to be available in December 2018, which will enable shipping companies digitalize and organize documents of dangerous goods, automatically connect relevant parties and streamline the approval process.

ChainDD noted members of GSBN include CMA CGM, COSCO SHIPPING Lines, Evergreen Marine, OOCL, Yang Ming Marine Transport Corporation, Hutchison Ports, PSA International Pte Ltd and Shanghai International Port (Group).


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