Blockchain System Successfully Deployed To Revolutionise The Logistics Industry Marine Transport International Announces A Successful Pilot Of Blockchain Technology

Validated By The University Of Copenhagen & Bloc

373
ADVERTISEMENTSSpectre Token SaleParagon ICO Atlant ICO Ties

Share with:


A successful pilot program delivered by logistics technology company Marine Transport International (MTI) demonstrates that the logistics industry will see improved connectivity, efficiency and security thanks to Blockchain. MTI, in conjunction with Agility Sciences, have today released a whitepaper detailing the deployment of their Container Streams system in a supply chain environment. The results of the pilot have been verified by scientists at the University of Copenhagen and maritime technology leads at Blockchain Labs for Open Collaboration (BLOC).

The project, which has connected supplier, shipper, load point, customs and terminal on a shared Blockchain ledger, has far reaching consequences for the logistics industry as it seeks new ways to improve security and profitability. All parties involved in the supply chain benefit from automated data flows as the system allows complete interoperability of data sources, even including legacy systems.

Jody Cleworth, CEO of Marine Transport International, comments:

“The results of this successful pilot demonstrate the strengths of Blockchain technology when deployed to link the various actors in the supply chain. We are confident that firms throughout the logistics industry will see a broad spectrum of benefits stemming from Blockchain deployment.”

“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 paralyzed 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.”

Karim Jabbar, from the Department of Computer Science at the University of Copenhagen, added:

“This pilot demonstrates the great potential for distributed ledger technologies to be used in improving supply chain processes. The Container Streams system is unique in the fact that it does not require the complete replacement of existing systems – instead, MTI’s solution allows complete interoperability with existing legacy infrastructure. The logistics industry as a whole can expect better visibility, connectivity and cost savings as a result of distributed ledger adoption.”

Deanna MacDonald, CEO of Blockchain Labs for Open Collaboration says,

“We have documented the first phase of this use case, its implications for the maritime industry and the resulting development of a turn-key application ecosystem for global supply chain logistics. However, the future potential of this ecosystem platform will rest upon collaboration from the different actors in these supply chains in order to clearly identify the problems and co-create applications that solve for the collective challenges they are facing today.”

About Richard Kastelein

Founder of industry publication Blockchain News, partner at ICO services collective CryptoAsset Design Group (helped raise over $200m+), director of education company Blockchain Partners (Oracle Partner) and ICO event organiser at leading industry event  CryptoFinancing (first ICO event in Europe) - Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of half a dozen Blockchain startups and has written over 1200 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat.
 
Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London, Manchester, Minsk, Nairobi, Nanchang, San Mateo, Shanghai,Tel Aviv and Venice. His network is global and extensive.
 
He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com and his work and ideas have been translated into Dutch, Greek, Polish, German and French.
 
A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world.
 
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, "The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

Visit Website
View All Articles
advertisement