Blockchain could become a Supply chain reality by year end

A large number of shipping Lines and ports, in particular, are currently engaged in trials regarding the use of Blockchain in the supply chain.  Hyundai Merchant Marine (HMM) says that it has completed its first voyage using blockchain, from booking to container delivery and this is the latest sign of the shipping industry’s adoption of the technology, which HMM aims to refine and deploy by year’s end. In a statement they said: “Adopting blockchain technology in shipping and logistics industry will enable all parties to securely share all the information such as the certificate of origin and customs clearance information, and will also reduce a tremendous amount of paperwork”.

Maersk Line has also developed a joint technology with its partner, IBM to enable the rapid adoption of this technology in all aspects of its container shipping operation.

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