Nine Carriers, Terminal Operators Mull Blockchain Shipping System

Nine of the largest ocean carriers and terminal operators have joined forces in a bid to expand their services with the means of blockchain technology, Hutchison Ports, one of the participants in the project, said on Tuesday. The companies signed a memorandum of understanding, which aims to create a distributed ledger technology (DLT) shipping system, called Global Shipping Business Network (GSBN).

The other founding members include five ocean carriers: CMA CGM, COSCO SHIPPING Lines, Evergreen Marine, OOCL, and Yang Min as well as several terminal operators: DP World, PSA International Pte Ltd, and Shanghai International Port. The proj…

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Hayden P.

A blockchain and cryptocurrency enthusiast

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