Global Shipping Business Network (GSBN) has launched a new blockchain-based platform that can track one third of all shipping containers in the world.
GSBN is backed by COSCO Shipping Lines and Ports, Hapag-Lloyd, Hutchison Ports, OOCL, SPG Qingdao Port, PSA International, and the Shanghai International Port Group (SIPG).
The organisation was founded in 2020 by eight global national freight maritime cargo companies in order to build a blockchain platform. It has been able to digitise shipping processes such as document issuance, clearance and logistics data.
The primary hosting partner for the blcokchain is Oracle, with AntChain providing nodes in China.
GSBN is well-positioned to expand across multiple jurisdictions
“Our Fabric nodes in both international and China territories are connected to form one enterprise blockchain network,” said Edmund To, GSBN’s Chief Technical Officer.
“By using managed blockchain solutions, GSBN is well-positioned to expand quickly across multiple jurisdictions.”
This move represents the step towards blockchain AI for international logistics. For deployment in China, it is important to add that AntChain is supported by Alibaba Cloud, which has been recognised as the first in the Asia Pacific for ‘Infrastructure as a Service’ by research firm Gartner in the past few years.
Recently, the UK-based banking giant Standard Chartered announced a partnership with Linklogis in order to create a new platform for trade finance that aims to unlock the power of blockchain and AI for international logistics capital.
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