Tesla works with blockchain pilots to speed up shipments at sea
A new Blockchain consortium is about to see the light of the world in the sectors of Sea and port transportation. The automaker Tesla participated in testing a private blockchain to speed up the process of recovering goods in ports.
Both sea and air transport show interest in the potential of Blockchain in their operations. A new experiment was carried out in the maritime sector at the end of last year.
The pilot thus assembled the transporter Cosco, the Shanghai International Port Authority, the automaker Tesla and the technology supplier CargoSmart. In December 2019, these companies therefore tested a blockchain application for transforming the freight release process.
Digital maritime waybills on the blockchain
These processes are still very often based on paper-based and complex administrative procedures, which can lead to delays and thus costs for those involved. As a result of a pilot project, these manufacturers initially collected and shared the same data source.
This delivery information was exchanged in real time between the shipping company and the operator of the port terminal via the blockchain.
The pilot project demonstrated not only the benefits of a single, reliable source of truth for freight documentation, but also the efficiency gains for industry participants, ”said CargoSmart.
The tested blockchain application is aimed specifically at this Reduce the verification steps between recipients, carriers and carriers to speed up the delivery of Sea waybills.
The digitization and simplification of these processes should therefore enable truckers to regain their freight more quickly at the terminal. For senders, this must lead to better adherence to delivery times and guarantees of customer service quality.
Faster goods recovery for Tesla
Blockchain use by the transporter Cosco and the port of Shanghai has empowered the industrialists Tesla, owned by Elon Musk, “to accelerate freight removal on a reliable and secure platform.” “
To achieve this, the port operator therefore had access to the “single and reliable source of maritime data” from the sea carrier. The key: a profit in the preparation of delivery orders for recipients and their forwarders.
Henry Huang, director general of the Port Operations and Matters Department, said: “This pilot project is a key element on our path to dematerialized, reliable and smooth business processes in the port of Shanghai.”
Blockchain pilots in other Asian ports
After this experiment, the blockchain application was enriched with new functions. CargoSmart Indicates that since the end of March, the platform has specified the exit point for goods, the date of the appointment and the delivery terminal. This data should enable shippers to have a better visibility of their freight.
The developments also continue and will benefit members of a blockchain consortium set up in the maritime sector: Global Shipping Business Network (GSBN).
Other similar pilots are also planned in Asian ports, including Qingdao in China and Laem Chabang in Thailand.
The goal is to expand the scope of the pilot by including more airlines and terminals and possibly to expand the pilot to other industry players in the near future, “said CargoSmart.