Dutch bank ABN AMRO is collaborating with the Port of Rotterdam, Europe’s largest shipping port, and Samsung SDS, tech solutions unit of Samsung Group, on a container logistics blockchain pilot.
The blockchain pilot, which will be conducted in January 2019, will involve building a platform for efficient and paperless administration processes for the international finance and logistics surrounding container transport. The platform will utilize Samsung SDS’ Nexledger blockchain and ABN AMRO’s Corda technology, developed by blockchain firm R3, to track the multi-modal transport of a container from a factory in Korea to the Netherlands through the Port of Rotterdam.
Currently payments, administration and the physical transportation of containers still take place almost entirely via separate circuits. Daphne de Kluis, ABN AMRO’s CEO of Commercial Banking, said that the pilot will integrate all those separate flows.
“We will be integrating all these flows in our pilot: from workflow management combined with track & trace to the digitisation of paper documentation such as waybills and the financing of handled freight or services,” de Kluis said. “The ultimate goal is to reach an open, independent and global platform that operates from the perspective of shippers. This will make the logistics chain more transparent and efficient, and millions of euros can be saved in the long term.”
Sanghun Lee, President of Samsung SDS EU/CIS, said that blockchain offers all parties in the logistics chain the opportunity to coordinate activities using validated data and without central management.
“Digitization provides automation, which creates an ultra-efficient logistics chain,” Lee said. “What is particularly special about the project is that, for the first time in the rather short history of this technology, we can have different blockchains operating together. This takes place via an overarching ‘notary’ that connects entirely separate blockchains in Korea and the Netherlands.”
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