The Port of Rotterdam has started a pilot blockchain together with global shipping giants to improve the safety and efficiency of container handling.
Dutch Port Rotterdam has started a pilot plant with some of the world’s leading shipping companies to improve the safety and efficiency of the millions of containers that are unloaded at the port every year. This follows from the port announcement on July 9.
The new blockchain application is reported to replace traditional PIN codes with digital signals. Depending on the port, the current PIN system requires manual processing, which is more susceptible to errors and delays. It is believed that this new digital solution is less vulnerable to fraud and makes container handling more efficient and safe.
Main transportation tycoons such as CMA-CGM, Hapag-Lloyd, MSC, ONE-Line, Hutchison Port, ECT Rotterdam, Rotterdam Fruit Pier, Milestone Fresh, VTO and Portmade will work with T-Mining application developers on a three-month pilot project.
Emil Hugsteden, Commercial Director at the Port of Rotterdam stated:
“Within this project, the different participants will use a blockchain application that enables them to safely and efficiently organize the release procedure followed by the various parties in the chain.”
Transition into the form of Token
In the span of the pilot project, container import rights were presented as blockchain-based numeric marking instead of PIN codes, the port said.
A token is a type of digital club that moves from side to side. Blockchain technology prevents authorizations given by shipping companies from being stolen or copied on their way.
The terminal operator can then ensure that the container has been released to the correct driver using a unique token. Tokens are also confidential, protecting chain details and preventing trade relations from being exposed during the process.