The Port of Rotterdam, along with several largest shipping companies, have launched blockchain pilot to improve container handling’s safety and efficiency of containers that are unloaded in the port every year.
Major shipping giants such as CMA-CGM, Hapag-Lloyd, MSC, ONE-Line, Hutchison Ports ECT Rotterdam, Rotterdam Fruit Wharf, Milestone Fresh, VTO, and Portmade will partner with the application developer T-Mining in a three-month pilot.
During the pilot project, the pick-up rights for the import of containers will be presented as a blockchain-based digital token instead of a PIN code, says the Port. The token is a kind of digital baton that passes from one party to the next. Blockchain technology prevents authorization issued by a shipping company from being stolen or copied along the way.
According to the port, the current PIN code system requires manual processing which is more liable to error and delays. The new digital solution is said to be less vulnerable to fraud and will make container handling more efficient and safer.
“During this project, the different participants will be using a blockchain application that enables them to safely and efficiently organize the release procedure followed by the various parties in the chain,” Emile Hoogsteden, Director of Commerce of the Port of Rotterdam Authority, told.