Blockchain and shipping

The pandemic led to a disruption of the global sectors that also included the ocean trade. International trade witnessed an extensive impact on operations, causing a sharp decline in trade activities worldwide. Only a few technology-driven service providers managed to overcome some of the Export and Import industry's challenges during the pandemic. Interestingly, however, the exporters and importers' stumbling-blocks could have been handled efficiently if the entire ecosystem was backed by digital infrastructure.

We are searching data for your request:

Blockchain and shipping

Databases of online projects:
Data from exhibitions and seminars:
Data from registers:
Wait the end of the search in all databases.
Upon completion, a link will appear to access the found materials.

WATCH RELATED VIDEO: Shipping in the Age of Blockchain

Risk identification and modeling for blockchain-enabled container shipping

Blockshipping has been started by a group of Danish shipping and technology experts, with several former Maersk employees on its executive team. Based on blockchain technology, the GSCP will serve as a real-time global registry for shipping containers around the world, tracing their locations and operators — a potentially huge market, considering there are currently about 27 million metal freight containers worldwide.

He says the platform will allow carriers to efficiently manage transactions related to container handling. Functions include identifying empty containers from other shipping lines, and working with other companies to fill them up. Then we can highlight to the exporter that there is actually an empty container here to use. The platform will also seek to automate various processes, such as payments via smart contracts: when a container has arrived, the payment for the service will be automatically processed.

And unlike many other pilots in this space, which still involve payments being done via traditional methods , Blockshipping has issued its own private cryptocurrency, the container platform token CPT. Pegged to the dollar, CPT allows for clearing and settlement of transactions between the users of the platform.

This is not only faster than fiat currency settlement, but it also avoids banking fees and exchange rate fluctuations, Ludvigsen says. Having already received funding from the Danish Maritime Fund and private backers, the ICO allows supporters to invest with the potential for return. The pre-sale by invitation has now started, and the public token sale opens on April Currently, the company is finalising the specifications for 14 different products, including a container ledger for title of ownership, real-time container location tracking and blockchain-based smart contracts.

When the ICO is complete, Blockshipping will appoint three to four software development companies to build the platform. The company hopes to have the first version of the platform ready to pilot in August, before going into production with phase one in January This will be followed by two further phases where Blockshipping will build and deliver additional products, including using the internet of things to test the use of sensors for real-time container tracking.

There is no doubt shipping is an industry in dire need of increased efficiency and transparency — and not least digital transformation. Despite this, it is an industry that has been troubled for years with challenges such as overcapacity and collapses of big container lines. Not helping is the fact that the industry is still dominated by manual and paper-based processes and lack of co-ordination between carriers. The launch of GCSP is not the first attempt to bring blockchain to the shipping industry.

Maersk, for one, is working on a blockchain-powered platform for the entire shipping ecosystem, together with IBM. Earlier this year the parties took their partnership to the next level, launching a joint venture to commercialise and scale their platform. Whereas the GCSP manages the physical containers, the Maersk-IBM platform aims to streamline processes and documentation related to the content of the containers, such as digitising the bill of lading and automating customs clearance processes.

It also outlines the methods by which we and our service providers may subject to necessary consents monitor your online behaviour to deliver customised advertisements, marketing materials and other tailored services. This Privacy Policy also tells you how you can verify the accuracy of your personal data and how you can request that we delete or update it.

Any questions regarding this Policy and our privacy practices should be sent by e-mail to privacy gtreview. This Data Protection Policy explains when and why we collect personal information about people who visit our website, how we use it, the conditions under which we may disclose it to others and how we keep it secure.

Our primary goal in collecting personal data from you is to give you an enjoyable customised experience whilst allowing us to provide services and features that will meet your needs. Should we discover that any such personal data has been delivered to any of the Sites, we will remove that information as soon as possible. These rules apply regardless of whether data is stored electronically, on paper or on other materials.

To comply with the law, personal information collected must be stored safely, not disclosed unlawfully and used fairly. The Data Protection Act is underpinned by eight important principles. These say that personal data must:. In addition, we may also store information including IP address and page analytics, including information regarding what pages are accessed, by whom and when.

By using the Sites and submitting personal information through the registration process you are agreeing that we may collect, hold, process and use your information including personal information for the purpose of providing you with the Site services and developing our business, which shall include without limitation the purposes described in the below paragraphs.

Where, as part of our Site services, we enable you to post information or materials on our Site, we may access and monitor any information which you upload or input, including in any password-protected sections.

If you are a registered user e. This enables your access to content and services that. Once you are logged on, the actions you take — for example, viewing an article — will be recorded subject to any necessary consents. We may use technology or a service provider to do this for us.

This information may be used for one or more of the following purposes:. Please see paragraph 5 below for more information on cookies and similar technologies and a link to a page where you can turn them on or off. We give you the opportunity to opt-out of receiving marketing communications.

Further detail can be found on the applicable Site and in the footer of each marketing communication sent by us, our group companies or service providers.

We will not share your information with third parties for marketing purposes. We may analyse your personal information to create a profile of your interests and preferences so that we can contact you with information relevant to you. All our Sites use cookies and similar technical tools to collect information about your access to the Site and the services we provide. When you enter some sites, your computer will be issued with a cookie. Cookies are text files that identify your computer to servers.

Cookies in themselves do not identify the individual user, just the computer used. Many sites do this whenever a user visits their site in order to track traffic flows, recording those areas of the site that have been visited by the computer in question, and for how long. Users have the opportunity to set their computers to accept all cookies, to notify them when a cookie is issued, or not to receive cookies at any time. All of the major browser providers offer advice on setting up and using the privacy and security functions for their products.

Most web browsers automatically accept cookies but, if you prefer, you can change your browser to prevent that, or to notify you each time a cookie is set. You can also learn more about cookies in general by visiting www.

Please note however, that by blocking, deleting or turning off cookies used on the Site you may not be able to take full advantage of the Site. They enable us to understand the consumers journey through metrics including open rate, click-through rate, bounces and unsubscribes.

When that image is downloaded from our web servers, the e-mail is recorded as being opened. By using some form of digitally time-stamped record to reveal the exact time and date that an e-mail was received or opened, as well the IP address of the recipient.

You can give your consent to opt-out of all or any particular uses of your data as indicated above by:. To turn cookies and similar technologies on and off, see the information in paragraph 5 above. Any questions regarding consents and opt-outs should be sent by e-mail to privacy gtreview. We may transfer, sell or assign any of the information described in this policy to third parties as a result of a sale, merger, consolidation, change of control, transfer of assets or reorganisation of our business.

Some of our Sites may have a message board, blogs or other facilities for user generated content available and users can participate in these facilities. Any information that is disclosed in these areas becomes public information and you should always be careful when deciding to disclose your personal information. Services on the Internet are accessible globally so collection and transmission of personal data is not always limited to one country.

However, when conducting transfers, we take all necessary steps to ensure that your data is treated reasonably, securely and in accordance with this Privacy Statement. We are committed to keeping the data you provide us secure and will take reasonable precautions to protect your personal data from loss, misuse or alteration. However, the transmission of information via the internet is not completely secure.

Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our Site; any transmission is at your own risk. Once we have received your information, we will use strict procedures and security features described above to try to prevent unauthorised access.

We have implemented information security policies, rules and technical measures to protect the personal data that we have under our control from:. All our employees, contractors and data processors i.

Each team handling personal data must ensure that it is handled and processed in line with this policy and data protection principles. However, the following people have key areas of responsibility. If you wish to know whether we are keeping personal data about you, or if you have an enquiry about our privacy policy or your personal data held by us, in relation to any of the Sites, you can contact the Data Protection Officer via:.

Upon request, we will provide you with a readable copy of the personal data which we keep about you. We may require proof of your identity and may charge a small fee not exceeding the statutory maximum fee that can be charged to cover administration and postage.

In certain circumstances, the Data Protection Act allows personal data to be disclosed to law enforcement agencies without the consent of the data subject. We will occasionally update this Privacy Statement to reflect new legislation or industry practice, group company changes and customer feedback. We encourage you to review this Privacy Statement periodically to be informed of how we are protecting your personal data. To this end, the company has a privacy statement, setting out how data relating to individuals is used by the company.

Search Search. Toggle navigation. Videos Podcasts. Share this. Santander-backed Ebury accelerates Latin America expansion. SAP moves into supply chain finance space with Taulia acquisition.

Beleaguered UK steel sector welcomes US tariff talks but pleads for wider government support. Privacy Policy. Who are we? Our principal business activities are: Business-to-Business financial publishing. Why do we collect information from you? These say that personal data must: Be processed fairly and lawfully Be obtained only for specific, lawful purposes Be adequate, relevant and not excessive Be accurate and kept up to date Not be held for any longer than necessary Processed in accordance with the rights of data subjects Be protected in appropriate ways Not be transferred outside the European Economic Area EEA , unless that country of territory also ensures an adequate level of protection How do we collect information from you?

Types of Personal Data Held and its Use 1. Monitoring use of our Sites Where, as part of our Site services, we enable you to post information or materials on our Site, we may access and monitor any information which you upload or input, including in any password-protected sections. This enables your access to content and services that are not publicly available. This information may be used for one or more of the following purposes: to fulfil our obligations to you; to improve the efficiency, quality and design of our Sites and services; to see which articles, features and services are most read and used to track compliance with our terms and conditions of use, e.

Please see paragraph 5 below for more details; to protect or comply with our legal rights and obligations; and to enable our journalists to contact and interact with you online in connection with any content you may post to our Sites.

Profiling We may analyse your personal information to create a profile of your interests and preferences so that we can contact you with information relevant to you.

Blockchain could provide a foundation for decarbonising shipping, says Zuma CEO

This article first appeared in Maritime Risk International on 15 September The two words do not traditionally sit easily together - or at all. The shipping industry has a proud history of several thousand years. Blockchain technology goes back only 12 years. However, in IT terms, blockchain technology is old technology. Blockchain is a type of database technology where a database is made up of records stored, updated and accessed simultaneously across multiple locations in real time.

In many cases, the location of shipments during transport is unclear, which makes scheduling delivery times difficult and causes companies' assets to be.

Shipping giants create blockchain platform to enhance global trade

Skip to main content. Blockchain Supply Chain. More Webcasts. John Monarch, chief executive and co-founder of ShipChain. Advancements in logistics data collection are expanding the ability of shipp. MORE ». White Papers. Could Melio be key to post-corona success?

trade made easy

blockchain and shipping

Contact our technical support team directly by calling us at , emailing support at support proshiphelp. Got a technical question? Need implementation instructions? Want info on a carrier? ProCyclopedia is a comprehensive online resource for ProShip customers.

Globalization has brought the most advanced trading networks the world has seen, with the biggest, fastest vessels, robot-operated ports and vast computer databases tracking cargoes. But it all still relies on millions and millions of paper documents.

From bikes to blockchain: Shipping industry goes digital in lockdown

A container ship is docked at the Mexican port of Lazaro Cardenas in Michoacan state on April 4, Distributed ledger technology has the potential to revolutionize global shipping. There are a handful of technologies that, if widely adopted, have the potential to revolutionize how the world works. Distributed ledger technology is one such invention, and shipping is an industry that would benefit from adopting blockchain and other distributed ledger technologies. Given shipping's struggles and its vulnerability to geopolitical risk , creating a transparent, distributed ledger that would remove middlemen and increase efficiencies could help the industry evolve and improve economically.

Ex-Maersk executives bring blockchain and cryptocurrency to shipping

Keen to find out more? I would be delighted to discuss this course with you and answer any questions you may have. Blockchain and Digital Transformation strategies to turbocharge your business future. Delivered using the latest interactive learning tools such as guided workshops, demonstrations and much more - this online course is specifically designed to support your professional development An online version of this popular course is now available, please email Courses nautinst. The Blockchain for Maritime Professionals - The Fundamentals online programme is open to any maritime professional keen to learn, especially to those who are responsible for future business growth e. The programme assumes that the participant has little or no knowledge of the topic and uses simple language to explain the technical jargon. This programme is also suitable for those who are within the corporate innovation or venturing divisions and associated with the maritime industry or those experienced maritime professionals considering entrepreneurship.

Blockchain is a data structure technology used for handling connected transactions to provide transparency, privacy and authentication for.

7 Major Blockchain Technology Developments In Maritime Industry

Blockchain potential in the Maritime industry. Blockchain-based platforms help to reduce it significantly. Read more about blockchain potential in the Maritime industry. Contents Potential of blockchain The growing popularity of blockchain technology Using blockchain in Maritime industry Blockchain technology adoption Summary Potential of blockchain Blockchain is a rapidly developing technology.

VentureBeat Homepage. Did you miss a session from the Future of Work Summit? Head over to our Future of Work Summit on-demand library to stream. Cargo shipping giant Maersk and IBM today announced TradeLens , a technology that applies blockchain to the global supply chain.

Major change is coming to the logistics and shipping industries — a transformation that promises to be even more dramatic than the move to third-party logistics a generation ago.

International goods flows could soon be transparent for all trading partners at any location and any time: a blockchain platform is set to turn global logistics into a comprehensive Supply Chain 4. The worldwide businesses IBM and Maersk are working together towards establishing end-to-end digitization of global trade. An open platform for all companies will speed up international shipping trade and make its organization more reliable. The blockchain would be ideal for this project because it is able to save information locally, negotiate contracts and make goods transport easy to track. The two main features of the solution are therefore real-time information over the entire supply chain and conversion of shipping papers into smart contracts.

Best known as the technology behind cryptocurrencies like bitcoin, ether, and alike, blockchain uses distributed data storage technology in line with first-class data encryption to record transactions, protecting from malicious revisions, deletion, disputes, etc. Blockchain has multipurpose implications for the way the products are being transported and delivered. Blockchain, with the help of innovations in AI and IoT, can be particularly useful for capacity monitoring.

Comments: 2
Thanks! Your comment will appear after verification.
Add a comment

  1. Dorran

    I'm sorry, but I think you are wrong. I'm sure. Let's discuss. Email me at PM, we will talk.

  2. Shakataxe

    The author, why are you updating the site so sickly?