One of the largest shipping companies in the world announced today that it has launched a solution based on Blockchain technology.
After a number of accidents associated with improperly balanced cargo, the international Maritime organization introduced in 2016, the requirement to check the total mass (VGM), in accordance with the Convention on safety of life at sea (SOLAS).
Kuehne + Nagel is now reporting that they use the Blockchain technology “in the large-scale operating environments with 800,000 transactions per month” for the portal VGM.
The aim is to simplify the exchange of information on test weight and exchange information with other parties, such as shipper, ocean carrier or marine terminal.
Since the Protocol immutable, shared data cannot be modified by other parties, so they use this solution for production purposes.
“A list of promises related to the use of the Blockchain in the logistics industry, long, but real applications are low,” says Martin Flask, chief information Director of Kuehne + Nagel International, adding: