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MGI’s Ci5 is first community system to use Blockchain

[ June 13, 2019   //   ]

Technology firm MGI says its Ci5 Cargo Community System has become the first in the world  to integrate Blockchain technology. MGI worked with Thales to integrate blockchain technology so that clients can act as trusted third parties when key statuses are validated for the release of goods from shipping terminals. Transactions that generate goods’ tracking status are verified through a consortium validation system made up of the system’s clients.

In practical terms, for imports, Ci5’s Final Release, which authorizes the release of goods from the shipping terminal, is obtained when the Shipping Release, Forwarder Release and Customs Release statuses are validated. These statuses have been “blockchained” in Ci5 so that they are obtained through the consortium, which acts as a trusted third party. Each event that creates a new status is tracked and cannot be altered or falsified, adding an additional tracking and security layer for supply chain events.

MGI director of information systems and operations, Alain Perez, said: “The expertise provided by our partner, Thales, enabled us to incorporate blockchain technology into our Cargo Intelligent System, Ci5. It’s a brand-new innovation for this type of system. Besides improving the security and traceability of transactions, blockchain technology essentially makes all the operators that use Ci5 trusted third parties,” says

Currently around 15 different operators exchange and share information in Ci5. Blockchain technology will enable other operators, such as banks and insurance companies to be included into the process, says MGI. Other events in Ci5 will be “blockchained” during 2019 to improve the service.

 

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