The canadian border services Agency (CBSA) became a partner in the second of the country’s largest port for testing blockchain solutions to optimize cargo transportation.
The port of Montreal, together with the Agency will test a platform TradeLens created by IBM and the Danish shipping company A. P. Moller-Maersk Group. Optimization of a cargo transportation with the help of blockchain platforms mainly involves the elimination of a huge number of paper documents that occur during transportation of goods, and their translation into a digital framework.
TradeLens was launched in August; the main goal of the project creators announced the modernization of the shipping industry by means of digitalization of documents. The platform plans to make a fully commercial by the end of the year.
According to the President of CBSA, TradeLens project was for the Agency the opportunity to create a unique, secure digital system of supply chain management for all vessels with cargo, sailing to Canada. Agency officials believe that the blockchain will help to reduce the time of transit of each consignment of goods in the United States by 40%, which will save thousands of dollars.
As told to media expert, head of the research group on the blockchain in the center for transportation and logistics MIT Borella INMA (Inma Borrella), the main difficulty of the project will be the lack of competition in the industry that could help to improve the work, and to cooperate.
“The industry of Maritime transport is very slow lends itself to the introduction of new technologies. And this is one of the obstacles,” Borella added.
In addition to the CBSA in the project will involve 90 organizations that control transport across the border in different countries, including Australia and the Netherlands.
Last year Asian shipping company Pacific International Lines (PIL) has teamed up with the terminal operator and Port Authority of Singapore (PSA) and IBM Singapore to create a system based on the blockchain Hyperledger Fabric to improve supply chains.