The biggest port operator in the UK, Associated British Ports (ABP), is in the blockchain news lately for its efforts to tap blockchain and explore a new technology application that will be aimed at improving connectivity at the 21 ports that it runs.
The application is actually part of a Memorandum of Understanding that ABP is signing with a freight forwarder named Marine Transport International, aied at improving the connectivity at all of the (21) ports that it runs.
The blockchain solution would be developed by MTI, helping ease one of the biggest headaches in the sector of logistics – which is the lack of system interoperability. As such, the solution is also expected to enhance efficiency as there will be no time waster on manually re-entering the data.
Right now, ABP handles a quarter of the seaborne trade in the UK and handles around 100 million tons of cargo on a yearly basis. As the founder and chief executive officer of MTI, Jody Cleworth recently stated:
“The logistics industry is awash with proprietary technology that forces users to work in a certain way – with blockchain, we can connect all those systems to ensure data is accurately and quickly shared, helping speed-up and simplify the flow of trade in and out of the UK,”
Even though it seems like a revolutionary one, this is not the first time MTI is trialing a blockchain technology. Last year, the freight forwarder completed a pilot program that was aimed at automating and digitizing the entire supply chain process from the shipper to the hauler as well as from the port operators to carriers on a distributed ledger.
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