British Shipping Giant Uses Blockchian As A Solution To The Problems With Supply Networks

Leading port operator in the UK plans to study the blockchain as a possible tool to increase the productivity of British shipyards.

Associated British Ports (ABP) today announced the signing of a memorandum of understanding to work with developers of blockchain-logistics, reports Marine Transport International (MTI). The Associated British Ports (ABP) runs approximately 21 ports throughout the UK and is responsible for handling 25 percent of the country's shipping.

This partnership will allow the two companies to work together to learn how a blockchain can be used to increase efficiency and throughput in ports across the UK. Of course, these "solutions" have yet to be worked out, so the specifics of how technologies will be used are yet to be clarified.

Currently, each participant in the supply chain uses another computer system to track shipments. In some cases, data must be entered manually from one system to another when the goods arrive at the port.

Naturally, this is a less effective system. Associated British Ports (ABP) claims that it will create a solution based on a blockchain that will allow all participants in the supply chain to communicate more easily and efficiently on a single system.

Blockchain is a big business in the shipping world. This is not the first example of a decentralized technology that is used to handle large loads. Earlier this year, a significant number of almonds were shipped from Australia to Germany, tracked completely by blockchain.