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wilslaw

Blockchains in Europe’s largest Shipping Port to be linked by Samsung SDS and ABN AMRO.

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Samsung SDS (The IT subsidiary of Korean giant- Samsung) for a logistics blockchain pilot tracking the shipment of a container from Korea to Netherlands , has formed a partnership with Dutch ‘big three’ bank ABN AMRO.

 

Specifically, the pilot will involve Samsung’s enterprise blockchain (Nexledger) and ABN AMRO’s Corda platform developed by R3 (a New York based industry firm). In the short history of this technology, this will be the first time that entirely separate blockchains in Netherlands and Korea will be connected. Daphne de Kluis (ABN AMRO’s commercial banking chief) explained:

Quote

We will be integrating all these flows in our pilot: from workflow management combined with track & trace to the digitisation of paper documentation such as waybills and the financing of handled freight or services.

 

As a result of enhanced efficiency as well as transparency from blockchain-powered logistic chains, the banking executive envisions “millions of euros” of savings in the long term.

The blockchain pilot will be completely paperless and receipts, payment of trades coupled with real-time sharing of documents will be electronically confirmed. This pilot will be conducted in January by the three parties including the port of Rotterdam. In 2017, Europe’s largest and busiest shipping port operator- The Port of Rotterdam Authority launched a ‘blockchain field lab’ to research as well as create applications based on the decentralized technology.

 

Samsung SDS is already part of blockchain consortium which includes some Korean authorities and logistics giants, all working to achieve the common goal to put on the blockchain all imports and exports in South Korea.

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