Kuehne + Nagel has started to use blockchain technology in a large-scale operational environment with 800,000 transactions per month while upgrading its VGM Portal. The technology attempts to improve the ease of doing business and the level of transparency on the VGM status of all shipments past and present.
All information submitted via the portal is stored on-chain, which allows for using native blockchain interfaces for data exchange with third parties, removing the need for additional off-chain communication channels. The technology is designed to meet industry requirements of confidentiality and data privacy adding to blockchain’s natural features of immutability and traceability.
Martin Kolbe, Chief Information Officer Kuehne + Nagel International AG, commented: “Our customers benefit from a tamper-proof solution for information exchange with third parties with improved efficiency and higher transparency.”
The first version of the Kuehne + Nagel VGM Portal went live in 2016 to enable a shippers to file VGM declarations as required due to the International Convention for the Safety of Life at Sea (SOLAS). Now, Kuehne + Nagel will look to use blockchain technology to further facilitate data exchange between its different partners.
Source: Kuehne + Nagel
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