Blockchain technology is the forefront and trend of current scientific and technological development. All fields have high expectations for blockchain and are actively exploring application channels. So in the past 2020, what is the application of blockchain technology in the shipping industry? What is the progress? Let's summarize and take stock, and use this to trigger the industry to predict and think about the application of blockchain technology in the shipping industry in 2021.

1. The first container bill of lading was processed using blockchain technology.

In August 2018, the world's first container bill of lading processed using blockchain technology was successfully implemented in the port of Koppel in Slovenia (European Union). The bill of lading for the shipment is issued electronically and turned around in a few minutes (compared to days or weeks in the past) in a super secure and reliable public blockchain network environment, and the risk of loss, theft or damage of the bill of lading is greatly reduced.

2. Completed the first single shipping transaction on the blockchain

In March 2018, the first batch of smart contracts deployed on the blockchain was officially piloted. TEU tokens held as reservation deposits have been successfully returned to users after receiving port EDI messages for textile shipments. The shipment included two 40-foot-high cube containers from Malaysia to Brazil.

Maersk and IBM Launch TradeLens Blockchain Transportation Solution

In 2018, Maersk and IBM announced the creation of TradeLens, a blockchain-enabled transportation solution that brings parties together on a common platform that supports the sharing and transparency of information and facilitates more efficient and secure global trade. IBM and Maersk announced that 94 organizations have actively participated or agreed to participate in TradeLens platforms built on open standards.

Abu Dhabi Ports Launches Blockchain Technology for Trading Community

Maqta Gateway, a subsidiary of Abu Dhabi Ports, was the first Abu Dhabi entity to develop and launch its own blockchain technology, Silsal, in 2018. Silsal combines blockchain technology and a unique digital user identity to provide secure and seamless links between stakeholders across the entire trading community. Blockchain technology acts as an open digital ledger, which can be used by trade actors to record and extract detailed information about transactions, with greater security, transparency and efficiency.

First marine insurance blockchain platform launched

Ernst & Young and Guardtime announced the launch of the world's first blockchain platform for the maritime insurance industry. The platform was launched in collaboration with A.P.M. ller-Maersk A / S,ACORD, Microsoft, MS Amlin,Willis Towers Watson and XL Catlin. The platform was first launched in the insurance industry for end-to-end use across the maritime industry.

PIL,PSA and IBM Complete Successful Testing of Blockchain Technology

In 2018, Pacific International Lines(Pte)Ltd ("PIL"),PSA International ("PSA") and IBM Singapore ("IBM") signed a memorandum of understanding to conduct a proof-of-concept ("POC") exercise, application, and test a blockchain-based supply chain platform to track and trace cargo shipments from Chongqing to Singapore.

Port of Antwerp, Belgium Launches Blockchain-Based Workflow

The Belgian port of Antwerp has developed a specific solution for phytosanitary certificates, where documents such as certificates of origin and phytosanitary certificates are transferred via blockchain technology, and the documentation process is carried out via so-called "smart contracts", which automate both office processes and ensure the safety of fruits and vegetables.

Overall, the shipping industry's door to blockchain technology is open in 2021, and blockchain technology continues to squeeze into the shipping industry from the open door, and the shipping industry seems to be trying to adjust its preparations to fully embrace the technology in 2021. So, in 2021, will the shipping industry and blockchain be deeply integrated and complement each other.Container Side Panel