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Samsung SDS, the logistics and IT division of the Samsung group, the Port of Rotterdam administration and the Dutch bank ABN AMRO are launching a pilot project based on the distributed ledger technology.

The Samsung division will connect its Nexledger blockchain product with the Corda platform ABN AMRO by February next year. In the process of unification, experts will check the compatibility of the two blockchain networks.

“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,” Sanghun Lee, President of Samsung SDS EU/CIS, explained.

The pilot project aims to simplify financial operations for container shipments from Asia to Rotterdam, such as proof of delivery and payment, document sharing in real time, etc., the document says. The ultimate goal of the project is to create an open, independent and global blockchain platform.

WHY IS IT IMPORTANT?

  • The technology of a distributed register allows you to make the logistics chain more transparent and efficient. Therefore, blockchain is more and more actively implemented by many organizations in this industry.
UAE & Belgium Ports to Deliver Blockchain Pilot
  • Last week it became known that Maqta Gateway, a subsidiary of the ports of Abu Dhabi, entered into a partnership with the Belgian port of Antwerp for a blockchain pilot. The largest companies suchas Maersk are interested in the possibilities of technology. Cisco,the American technical conglomerate, has also begun researching potential blockchain applications in its supply chain management.

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