Archives



Forwarding, Freight News, IT, Logistics


Partners hail blockchain success

[ August 31, 2017   //   ]

Logistics technology company Marine Transport International (MTI) and Agility Sciences have released a white paper detailing the deployment of their Container Streams. The project connected supplier, shipper, load point, customs and terminal on a shared blockchain ledger, and has far reaching consequences for the logistics industry in improving security and profitability, say the two partners.

Jody Cleworth, CEO of Marine Transport International, comments: “The blockchain has proven to be an excellent way of connecting the different parties involved in any supply chain environment due to the transparency and security-by-design of the technology. In recent months the shipping industry has fallen victim to industrial-scale cyberattacks which have left large shipping lines, such as Maersk, completely paralysed and unable to serve clients.

“A blockchain-enabled supply chain is highly resilient to cyberattack – a copy of the essential shipping data is stored on each node on a decentralised network, meaning that even if one node is compromised, the data is safe nevertheless.”

“The business case for connecting supply chains using blockchain is very strong. As the interface is easily adaptable to existing systems there is a very low barrier to entry.  Any type of supply chain business, be it marine-, air-, or land-based, can take advantage of such a system – the cost savings that we envisage are as high as 90%, as a result of substantially streamlined processes.”

 

Tags: