Successful Launch of First Blockchain Shipment From South Korea To The Netherlands

• Toshendra Kumar Sharma
• July 04, 2019

According to a report released on 01 July 2019, the Dutch bank ABN AMRO, Port of Rotterdam, and Samsung SDS have jointly conducted a Proof-of-Concept shipment from South Korea to the Netherlands. Before deploying blockchain technology, the shipment process was ineffective and paper-heavy. For this, they exclusively tracked a container by using an interoperable blockchain platform. The blockchain platform through which the container was tracked is called ‘DELIVER’ which aided in the shipment to be fully tracked, instantly financed, and conducted paperlessly.

 

Samsung SDS leads to digital transformation and innovation across a wide range of industries. Operating in over 30 countries, it utilizes Artificial Intelligence (AI), blockchain technology, and advanced analytics platforms for serving a diverse range of industries such as retail, global logistics, smart manufacturing, and financial services. Samsung SDS is recognized as a global top-tier IT solutions and services provider.

 

The DELIVER platform connects various blockchain platforms. By connecting different platforms, it supports asset transfer functions, document notarization, and double payment prevention. It is an interoperable platform which supports Hyperledger and Ethereum applications.

 

ABN AMRO is a client-focused and data-driven organization. It aims to deliver a recognizable and effortless client experience. It is a company based in the Netherlands and provides banking products and services. It operates in four segments such as commercial, private, and retail banking. ABN AMRO also provides administrative services for mortgage loans.

 

According to Han Seung Yeop, a manager at Samsung SDS, “The Customs Clearance Blockchain System at the Korea Customs Service is based on Hyperledger Fabric, while Rotterdam Port in the Netherlands is using the Ethereum Platform […]. We started the Deliver project to connect different platforms.”

 

After the successful completion of the PoC shipment, the Port of Rotterdam will launch multiple pilot projects in the future using the DELIVER platform. Its main goal is to provide an independent shipping platform on a global scale. Numerous companies are now showing interest in using blockchain for customs and shipping procedures. Earlier, the Port Authority of the Bay of Algeciras has reportedly entered into a partnership with IBM on Tradelens, its shipping platform, which is based on blockchain and is jointly developed by IBM and Maersk, the Danish container ship and supply vessel operator.

 

According to Paul Smits, the Chief Financial Officer of the Port of Rotterdam, “Currently payments, administration and the physical transportation of containers still take place entirely via separate circuits […] This results in inefficiency, as many parties are involved and everything is organized via paper documentation. For instance, an average of 28 parties is involved in container transport from China to Rotterdam.”

 

Port of Rotterdam, ABN AMRO, and Samsung SDS announced last year October about their partnership and their intention to test a blockchain solution for shipments.