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Associated British Ports Seeks Blockchain Based Solutions for Shipping Logistics

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Dry Bulk Magazine's recent report states that UK's leading port operator, Associated British Ports (ABP) has signed a deal with the Marine Transport International (MTI), a digital logistics company to develop a blockchain based solution for port logistics.

The agreement between ABP and MTI states that ABP will explore blockchain for improving port connectivity. It is to be noted that Associated British Ports operates a total of 21 ports and carries out almost 25% of overall cargo shipments in Great Britain.

CEO of Marine Transport International, commented the following "With blockchain, we can connect all those systems to ensure data is accurately and quickly shared, helping speed-up and simplify the flow of trade in and out of the UK."

Dry Bulk also mentioned in the report that all the key participants in the whole supply chain process involved are not connected to each other properly. The port operators, carriers and the shippers use different systems which poses a problem in smooth connections between supply chains. This blockchain-based solution will link all the parties and help them by reducing the time spent on manual review of scattered data. Jody Cleworth, founder and CEO of Marine Transport International, commented the following "With blockchain, we can connect all those systems to ensure data is accurately and quickly shared, helping speed-up and simplify the flow of trade in and out of the UK."

In June 2018, Denmark announced its plans of implementing blockchain based solutions for registering its ships in the local ship registers. Also, ports in Abu Dhabi launched their own blockchain based solutions for logistics.

ports in Abu Dhabi launched their own blockchain based solutions for logistics

Even the global service delivery partner FedEx's CEO, Fred Smith, stated the various benefits of blockchain technology in supply chains and called the technology as the next big thing which will completely change the entire industry.

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