Amid all the hype in fintech applications for the shipping sphere, perhaps the most immediately applicable and translatable into practical usage is the electronic or smart bill of lading. This is something that CargoX has astutely put much effort into developing and now stands set to reap the benefits of.
Everyone is talking about blockchain but explaining what it actually does to the average shipping or legal person is a rather more challenging task. Holland & Knight lawyer K. Blythe Daly likened blockchain to a series of transactions linked together in the manner of Lego building blocks in a presentation to the Society of Maritime Arbitrators (SMA).
The Port of Rotterdam Authority is teaming up with IBM for a multi-year digitalisation plan to transform its operations with the Internet of Things (IoT).
The supply chain is “the nirvana of blockchains” with many applications where they can be employed. According to Guardtime chief risk officer David Piesse, the key to making it successful is making sure everybody who is involved in the supply chain gets onboard.
The Maritime & Port Authority of Singapore (MPA) and IBM have completed trials of the first three modules of a system using data analytics aimed at improving port volumes.
Pacific International Lines (PIL), PSA International (PSA) and IBM Singapore (IBM) have signed a memorandum of understanding (MOU) on Monday to explore and trial proof of concept blockchain-based supply chain business network innovations.
As the world’s largest container carrier Maersk Line pushes ahead with digitalisation of the customer experience its raises the question of role of intermediaries such as freight forwarders.