Blockchain technology adoption to marine transport sector.

Published by Cyber Flows on

You may be surprised but the blockchain technology can be used not only in cryptocurrencies and finances but also in other industries. This is the case, for example, in the marine transport sector. Just recently, the port of Rotterdam – the biggest in Europe – has announced that it will begin a one-month trial using blockchain technology in managing its operations.

During that period, the employees of the port will be testing a special container management system based on blockchain technology that is introduced in cooperation with Samsung and ABM Amro bank. The coordinators behind the project claim that it will be paperless integration of systems used in international distribution and over the long-term usage it will help to save millions of Euros.

The full blockchain technology adoption in maritime transport will surely take time, but the first and the most noticeable change will be the standardization of processes. Nowadays, many third parties can be involved in different stages of production, management, storage and transport that often do not effectively communicate with each other. Problems with communication increase the amount of paperwork as well as handling time and therefore cause many bureaucracy issues and logistics difficulties. With blockchain, everything will be managed more efficiently in transparent way.

It is obvious that blockchain technology can be adapted into many industry sectors and help them develop even further. An example of the Rotterdam port is a great promise of further development of the technology.

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