Business, Forwarding, Freight News, IT, Logistics

Partners set up digital documents platform

[ February 1, 2019   //   ]

Kerry Logistics Network, audit firm Deloitte, and digital specialist CargoSmart have connected up their multiple distributed ledger technology – or Blockchain – networks in a platform to exchange digital documents between forwarders and carriers. Completed in December 2018, the platform’s proof-of-concept (POC) works across distributed ledger (DLT) and Cloud networks commonly used by participants in global trade and finance.
Kerry’s group director of information technology, Wilson Lee, said that the technology could simplify the complicated transactions in logistics operations. Deloitte Asia Pacific Blockchain Lab leader Dr Paul Sin added: “Document digitalisation is a groundbreaking step in the transformation of the logistics industry. In addition to facilitating document coordination, DLT speeds up approvals, provides updated and secure data for informed decisions, and offers a source of truth for all participants, especially banks, insurance companies, and other financial institutions. We therefore expect even greater benefits from DLT applications for shippers, forwarders, carriers, and other players at large in the future.”
CargoSmart chief commercial officer, Lionel Louie, said a single source of truth simplifies the documentation process and accelerates data exchange across multiple parties.