Europe`s Second Largest Port To Use Blockchain In Logistics

Europe`s Second Largest Port To Use Blockchain In Logistics

The second largest port in Europe by container capacity is now running a Blockchain trial project that aims to optimize logistics automation.Belgi

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The second largest port in Europe by container capacity is now running a Blockchain trial project that aims to optimize logistics automation.

Belgium-based Port of Antwerp has announced that it is exploring the potential of Blockchain technology in regard to automating and steamlining the terminal`s container logistics operations. The test is being conducted together with a blockchain start-up called T-Mining, as coindesk.com wrote in a recent article.

According to the the port`s press release, the blockchain service permits safer and faster transfer of valuable objects. It does it fully digitally and without a middlemen.

“With our blockchain platform the right truck driver is given clearance to collect a particular container, without any possibility of the process being intercepted. Furthermore our blockchain platform uses a distributed network, so that the transaction can go ahead only if there is consensus among all participating parties, thus excluding any attempts at fraud or undesired manipulations.”, as the port`s statement explained.

“We want to test whether it all works smoothly in practice”, said Nico Wauters, CEO of T-Mining.

“Together with PSA, MSC, a forwarder and a transporter, we ensure secure handling of the first containers on our blockchain platform. Thanks to the City of Antwerp we even have an office in Singapore where we are working hard to introduce our solution there too. Our ambition is to serve the first paying customers by the end of this year.”, as he added.

As the World Shipping Council (worldshipping.org) revealed in 2015, the Port of Antwerp is the fourteenth biggest in the world, measured by terminal capacity. It is also the second largest in Europe after Rotterdam, which has also tested Blockchain as a logistical solution, as coindesk.com wrote.

Danish shipping giant Maersk has also completed its first live blockchain trial, as the online media noted.

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