The Port of Antwerp is running a pilot blockchain project focused on logistics automation. The test, which aims to automate and streamline operations at the port, is being conducted with blockchain startup, T-Mining.
The port stated in a release that moving containers from point to point often involves more than 30 different parties, including carriers, terminals, forwarders, haulers, drivers, shippers and more. This process results in hundreds of interactions between those parties, conducted through a mix of e-mail, phone and fax.
“The paperwork accounts for up to half of the cost of container transport,” the port authority said.
Blockchain is gaining traction in shipping. Earlier this year the world’s largest containerline, Maersk, teamed up with IBM to focus on using blockchain technology for its daily operations.