Federal Maritime Commission hosts “blockchain” discussion
As reported in LM, Maersk is now joining IBM in a widely celebrated effort to introduce blocktrain technology linking shippers, freight forwarders, other ocean carriers, ports and customs authorities.
Transportation in the News
Don’t call freight volume recovery a comeback FTR Shippers Conditions Index falls but remains in growth mode Yellow, Teamsters union butting heads a year before contract deadline Industry stakeholders call on White House to aid in West Coast port labor talks U.S. rail carload and intermodal volumes are down, for week ending March 18, reports AAR More Transportation NewsA panel of experts participated in a "brown bag" lunch discussion this past week, hosted by the Federal Maritime Commission, where the topic of blockchain technology and its applicability to supply chain management and increasing efficiency in international trade was explored.
Blockchain is a relatively new technological protocol for managing and tracking information, most commonly data related to financial transactions. There is an increasing interest in the international ocean shipping industry in applying blockchain technology to improve transparency, accountability, and accuracy of the processes involved in transporting a container over the seas.
Additionally, the U.S. and other governments have begun to consider the applicability of the technology for meeting their data management needs and mission requirements.
Four individuals from three different organizations participated in the FMC event: Gerard Dache of the Government Blockchain Association; Henrik De Gyor, a consultant and the co-author of Blockchain Billions; and Mark Tierney and Annette Mueller both of Maersk Line.
As reported in LM, Maersk is now joining IBM in a widely celebrated effort to introduce blocktrain technology linking shippers, freight forwarders, other ocean carriers, ports and customs authorities.
During the course of the session, a number of topics were addressed including the history of the application of the protocol, including the development of Bitcoin, the concept of a "shared ledger" in transactions, and the broad potential for use in supply chains and different types of credentialing requirements.
About the Author
Patrick Burnson, Executive Editor Mr. Burnson is a widely-published writer and editor specializing in international trade, global logistics, and supply chain management. He is based in San Francisco, where he provides a Pacific Rim perspective on industry trends and forecasts. He may be reached at his downtown office: [email protected].Subscribe to Supply Chain Management Review Magazine!
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