Private UK port operator Associated British Ports (ABP) have signed a Memorandum of understanding with the freight forwarder, Marine Transport International to develop blockchain technology, is the app aimed at improvement of work in the 21st port.
The Memorandum of understanding stated that ABP tried the blockchain is a solution developed by MTI, thereby facilitating one of the biggest headaches in logistics sector – the lack of interoperability of the system. It is expected that the decision will increase the efficiency, since the time re-entering data will not be wasted. Currently, the port operator serves a quarter of Maritime trade in the United Kingdom, and it is almost 100 million tons of cargo per year.
“Using the blockchain industry logistics can connect all the necessary systems to ensure accurate and quick distribution of data, to accelerate and simplify the flow of trade of great Britain,” — said in his statement founder and CEO of MTI, Jody Cleworth.
A successful test of the Blockchain technology
This is not the first test MTI. A year ago, the carrier completed a pilot program aimed at automating and digitizing the entire process of the supply chain from the shipper to the carrier and from the operator port to the carrier in a distributed and decentralized Ledger.