KUEHNE + NAGEL has
started operating its verified gross mass (VGM) portal on blockchain
to get hands-on experience with blockchain technology in a large scale,
on-premise production environment with 800,000 transactions per month.
The upgraded solution provides
shippers with new features that improve the ease of doing business as well as the
degree of transparency on the VGM status of all customer shipments and
the history
of persisted data, reported the American Journal of Transportation.
All information submitted via the
portal is stored on-chain, which allows for using native blockchain interfaces
for data exchange with third parties. The company designed the solution to meet
industry requirements for confidentiality and data privacy.
Commenting on the deployment of
blockchain in the company's VGM portal, chief information officer Martin
Kolbe said: "Our customers benefit from a tamper-proof solution
for information exchange with third parties with improved efficiency and higher
transparency."
He continued: "The full
potential of blockchain can only be exploited when collaboratively working
together with business partners. Our involvement in a consortium engaged in the
digitalisation of bill of ladings for sea freight is the best example.
"Operating the VGM portal on
blockchain in an operational high-volume environment delivers valuable learning
and expertise for the development of joint blockchain applications."
Source : HKSG.
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