[271018.EN.BIZ] Port of Rotterdam Joins Korea-Netherlands Box Moving Blockchain Pilot

THE Port of Rotterdam Authority, Samsung SDS and ABN AMRO bank are preparing to launch a container logistics blockchain pilot, American Shipper reports.

The January-to-February pilot involves a multimodal container movement from a factory in Asia to a consignee in the Netherlands, implemented by three parties all interfacing in a network open to other parties to join.

The goal is to create a complete, paperless integration of physical, administrative and financial streams within international distribution chains.

"Currently payments, administration and the physical transportation of containers still take place entirely via separate circuits," said Port of Rotterdam CFO Paul Smits. "This results in inefficiency as many parties are involved and everything is organised via paper documentation.

"For instance, an average 28 parties are involved in container transport from China to Rotterdam," said Mr Smits said. "The transportation, monitoring and financing of freight and services should be just as easy as ordering a book online."

The development of the pilot was assigned to BlockLab, which was established by the Port of Rotterdam Authority.

Said ABN AMRO commercial banking chief Daphne de Kluis: "We will be integrating all these flows in our pilot: from workflow management combined with track and trace to the digitisation of paper documentation such as waybills and the financing of handled freight or services.

"The ultimate goal is to reach an open, independent and global platform that operates from the perspective of shippers," Ms de Kluis said. "This will make the logistics chain more transparent and efficient, and millions of euros can be saved in the long term."

Said Samsung SDS Europe chief Sanghun Lee: "Blockchain offers all parties in the logistics chain the opportunity to coordinate activities using validated data and without central management.

"For the first time, we can have different blockchains operating together. This takes place via an overarching 'notary' that connects entirely separate blockchains in Korea and the Netherlands," said Mr Lee.

Source : HKSG.