The port of Rotterdam in the Netherlands, has launched a blockchain-based pilot project with some of the world’s leading shipping companies to improve the safety and efficiency of millions of containers that are unloaded in port each yearAccording to a July 9 statement.
Safe container release, The new blockchain application is to replace the conventional PIN code with a digital signal. Depending on the port, the current PIN code system requires manual processing, which is more prone to errors and delays. The new digital solution is said to be less susceptible to fraud and to make container handling more efficient and secure.
Leading shipping giants such as CMA-CGM, Hapag-Lloyd, MSC, ONE-Line, ECT Rotterdam from Hutchison Ports, Fruit Wharf from Rotterdam, Milestone Fresh, VTO and Portmade will collaborate in a pilot project with the application developer T-Mining for three months.
Emile Hoogsteden, Commercial Director of the Rotterdam Port Authority, added:
“During this project, different participants are using a blockchain application to help them organize the startup process, followed by different parts of the chain, safely and efficiently.”
Tokenize the traditional shipping PIN
During the pilot project Collection rights for container imports are represented as a blockchain-based digital token instead of a PIN code. says the port.
The token is a kind of digital stick that changes from one part to the other. Blockchain technology prevents the permission given by a shipping company from being stolen or copied on the go.
The terminal operator can be sure that the container has been released to the correct driver via the individual token. The token is also confidential, which protects details about the chain and prevents business relationships from being exposed during the process.