Samsung SDS and ABN AMRO to trial blockchain in shipping logistics

Samsung SDS and ABN AMRO will collaborate on a trial project that applies blockchain to shipping logistics, the companies have announced.

The South Korean IT services firm and Netherlands bank will connect their blockchain platforms Nexledger and Corda, respectively, with the project expected to be completed in February next year.

The collaboration aims to apply blockchain into goods departing from Asia that arrive in the port of Rotterdam.

The goal is to reduce transaction times for imports and exports, share related documents, and prevent fraud.

Samsung SDS and ABN AMRO will later expand the routes it applies to, and will aim to connect with other companies’ blockchain platforms.

The South Korean conglomerate last year formed a blockchain consortium of local logistics firms to test its Nexledger platform.

Samsung launched the private chain service last year in April, and has since applied it to its finance platform, Nexfinance, launched earlier this year.

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Published on: 2018-10-22 02:25:46

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