Newsletter - August2018
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Centrolene<br />
NewsEdge Know more.<br />
Page: 10<br />
platform enables organisations to easily build blockchain networks to drive<br />
more secure and efficient transactions and to track goods through supply<br />
chains on a global scale, CargoSmart said.<br />
“Its enterprise-grade architecture, interoperability and decentralized<br />
governance model make it ideal for organizing and tracking international<br />
shipments through all involved parties,” the company added. “CargoSmart will<br />
continue working with Oracle to build comprehensive blockchain networks<br />
with breadth and depth to serve key customers.”<br />
Amit Zavery, executive vice president of Oracle Cloud Platform, commented:<br />
“Maritime shipping is essential to global trade, but it often suffers from<br />
inefficiencies in the complex documentation processes across many involved<br />
parties. CargoSmart’s new solution, powered by Oracle’s blockchain cloud<br />
platform can help engender trust and confidence in the ecosystem. Its gives<br />
users across the entire shipping ecosystem a trusted, secure, scalable, and<br />
resilient means to share information, helping to speed up turnaround time,<br />
reduce disputes and lower costs.”<br />
The move comes as a number of container shipping and logistics companies<br />
have already launched initiatives to explore and develop the use of blockchain<br />
technology. Maersk and IBM announced a blockchain joint venture in January,<br />
while APL and Pacific International Lines have been testing blockchain<br />
solutions with partners.<br />
However, the chief executives of Hapag-Lloyd and Ocean Network Express<br />
have pointed to the lack of industry standardisation as the main stumbling<br />
block to a further application of the technology in container shipping.
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