Blockchain can boost supply chain efficiency and cut costs – and resist cyber attack


Scientists at the University of Copenhagen have backed using blockchain systems in container shipping after tests led to improved efficiency and security.

The pilot scheme of Marine Transport International’s “Container Streams” system connected supplier, shipper, load point, customs and terminal on a shared blockchain ledger.

The technology is essentially an encrypted messaging system that allows supply chain partners to operate a shared ledger that records all the events in the processing and physical progress of a shipment, such as customs entries or bills of lading.

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Blockchain can boost supply chain efficiency and cut costs – and resist cyber attack

 

Source: The Loadstar

Author: Alexander Whiteman

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