Commercial port of Vladivostok switches to blockchain
Vladivostok Sea Trade Port will track cargo on the TradeLens blockchain platform.
Blockchain comes to Vladivostok
Vladivostok Commercial Sea Port (VMTP) became one of the first Russian ports to connect to the TradeLens blockchain platform. The platform, developed by a subsidiary of the container carrier Maersk jointly with IBM, allows to digitize the workflow and thereby optimize the exchange of data between shippers, shipping companies, customs authorities, port and terminal operators.
TradeLens greatly simplifies the interaction between carriers and cargo owners. It is convenient to exchange information about transactions in real time through the platform, as well as send commercial documents to each other. In addition, thanks to blockchain technology, it will now be much easier and faster to track cargo and settle the necessary formalities, for example, issue invoices for cargo, sanitary certificates, invoices for payment..
Commenting on the news, said Anton Popov, director of the information technology department at VMTP, noted:
“Now we are testing the system and transferring information about unloading and loading cargo, mooring of ships to the blockchain platform. After the full integration of the system, we will be able to optimize work with regulatory authorities, reduce the time required for paperwork and receive online reports from the sea carrier “.
In September 2019, Fesco switched cargo transportation to blockchain on the route that runs through the port of Vladivostok, which, in fact, became a test site for the new technology. Also, FSUE Morsvyazsputnik announced its readiness to use blockchain in the field of container transportation through the Big Port of St. Petersburg. The project was planned to be implemented jointly with the Danish company AP Moller Maersk.
Cargo transportation is one of the most promising areas for the application of blockchain technology. The industry is highly bureaucratic and still requires a lot of paperwork. The introduction of new technologies will relieve the burden on carriers and shippers and help streamline business processes by reducing paperwork and the number of intermediaries. This will not only reduce the cost of cargo transportation, but also reduce the risks of fraud along the entire route..
Last month, TradeLens was joined by a Sri Lanka container terminal located in Port Colombo. In addition, in July it became known that the Mumbai-based shipping company Shipwaves also became part of the TradeLens ecosystem..
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