KERRY
Logistics, Deloitte, and CargoSmart are deploying
blockchain technology, after successfully linking multiple distributed ledger technology
(DLT) networks, in an effort to create a document exchange platform that
can also facilitates the track, trace and monitoring of cargo shipments along
the supply chain in real time.
Completed this December, the platform's proof-of-concept
(POC) is interoperable across different DLT and cloud networks commonly
used by participants in global trade and finance.
"Distributed ledger is a technology that could
simplify the complicated transactions in logistics operations. When we
eliminate redundant processes, we can bring new benefits to our customers and
to the planet."
The company regards blockchain to be the solution for
"ultimate supply chain optimisation and is trying all means to be in the
vanguard of this revolution," it said in a statement.
"A healthy logistics ecosystem is paramount in
global trade but complicated documentation has been a structural problem.
Document digitalisation is not just the first step, but also a ground-breaking
step in the transformation of the logistics industry," said Kerry
Logistics group director of information technology Wilson Lee.
In addition to facilitating document coordination, DLT
speeds up approvals, provides updated and secure data for informed decisions,
and offers a source of truth for all participants, especially banks, insurance
companies and other financial institutions.
"We therefore expect even greater benefits from DLT
applications for shippers, forwarders, carriers and other players at large in
the future," added Deloitte Asia Pacific blockchain lab leader
Dr Paul Sin.
"Deloitte is grateful for the opportunity to help
Kerry Logistics embark on the journey towards a more trustworthy, efficient
ecosystem, leveraging CargoSmart's connectivity with major carriers and
terminals."
Source : HKSG.
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