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Several Companies, Including GSBN AND OOCL, have partneered with sign to improve transport engine

  • Author:Ivy
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  • Release Date:2023-03-16
Several Companies, Including GSBN AND OOCL, have partneered with sign to improve transport engine

The Global Shipping Business Network (GSBN) is an independent non-profit blockchain technology consortium. Recently announced a partnership with companies including OOCL and the Shanghai Chemical Industry Testing Institute (SICIT) to improve the safe transportation of chemical cargoes through the use of blockchain technology.

GSBN pointed out that special shipments of designated goods such as chemicals and lithium batteries should be certified for safety before being handed over to logistics and shipping companies for export. The carrier will conduct the transportation in accordance with the appropriate certification management to reduce the risk of potential accidents and protect the safety of the crew.

The icit is an organization that authorizes testing and issues safe shipping certificates for exports mainly from China. Generally, the shipper will obtain the certificate from the certification authority and provide a copy of the document to the carrier.

GSBN points out that certificates shared in this form may be difficult to verify for carriers and subsequent carriers in the supply chain, and therefore pose risks such as mislabeling and fraud.

To address this risk, the developers created a new streamlined process, developed using GSBN's blockchain platform, to ensure that the safe shipping certificate and the information it contains can be confirmed from the original source, ensuring the accuracy of the information.

To prove it, the partners set up a proof of concept with appliance manufacturers that ship beautiful products. Through GSBN, Cosco and OOCL will be able to verify directly with SICIT the certificates Midea has obtained for its goods.

GSBN says its blockchain-enabled infrastructure ensures that certificate data is immutable and structured and can be verified as the only true source, which is expected to help reduce human error, enhance the security of goods, and speed up the overall process.

In the future it could also facilitate advances in automated verification and the flow of reliable certificate data stored on the blockchain between multiple parties.