ABN AMRO announced on Friday it has teamed up with Port of Rotterdam and Samsung’s logistics and IT division, Samsung SDS, to launch a new container logistics blockchain pilot. According to the Dutch bank, this pilot will seek to use blockchain technology to build a platform for efficient and paperless administration processes for the international finance and logistics surrounding container transport. ABN AMRO also reported:
“The pilot uses blockchain technology. Blockchain offers all parties in the logistics chain a ‘single point of truth’, using validated data and without central management. Digitization provides automation, which creates an ultra-efficient logistics chain. What is particularly special about the project is that, for the first time in the rather short history of this technology, different blockchains are operating together. This takes place via an overarching ‘notary’ that connects entirely separate blockchains in Korea and the Netherlands.”
While sharing more details about the pilot, ABN AMRO’s CEO of Commercial Banking Daphne de Kluis stated:
“We will be integrating all these flows in our pilot: from workflow management combined with track & trace to the digitization of paper documentation such as waybills and the financing of handled freight or services. The ultimate goal is to reach an open, independent and global platform that operates from the perspective of shippers.”
ABN AMRO also explained that the pilot involves the multi-modal transport of a container from a factory in Korea to a location in the Netherlands and added it will be implemented by the three parties, with the cooperative network will then become open for other parties to join. The pilot is currently scheduled to be conducted in January next year.