Piloting of the blockchain powered platform is carried out in partnership with multinational shipping companies.
The platform, referred to as Secure Container Release, is intended to substitute the conventional PIN code with an electronic signal. As per the port, the current PIN code format necessitates book based processing, implying that it is prone to mistakes and waiting time.
The latest digital solution is stated to be less susceptible to cheating and will turn the process of container handling safe and competent.
Top shipping companies, including CMA-CGM, MSC, Hapag-Lloyd, ONE-Line, Rotterdam Fruit Wharf, Hutchison Ports ECT Rotterdam, Milestone Fresh, VTO and Portmade will collaborate with the application builder T-Mining in a three month trial.
Emile Hoogsteden, Director of Commerce of the Port of Rotterdam Authority, further stated that:
“During this project, the different participants will be using a blockchain application that enables them to safely and efficiently organize the release procedure followed by the various parties in the chain.”
During the trial venture, the rights to pick up imported containers will be sent as a blockchain powered digital token, rather than a PIN code, the Port stated. The token acts as a kind of digital signal that changes hand from one party to other.
The use of blockchain technology avoids the authorization granted by a shipping firm from being swindled or copied during the transfer process.
The terminal operator can know for certain that the container has been handed over to the precise driver via the unique token. The private token also secures info about the chain and blocks trade related links from being revealed during operations.