Associated British Ports (ABP), the UK’s leading port operator, has signed a memorandum of understanding (MoU) with digital logistics enabler Marine Transport International (MTI), to create one of Europe’s most detailed blockchain pilot programmes.
As part of the agreement, ABP will commit to participating in MTI’s blockchain solution in pilot shipments, and the technology is designed to offer a secure link within the supply chain.
According to a statement, ABP believes the MoU has the potential to speed up the transafer of cargo through ports.
Find out more about blockchain and its effect on the supply chain by reading a Port Technology technical paper
Ron Crean, Group of Marketing for ABP, commented: “Our aim is to support our customers in achieving frictionless trade.
“Based on the results from our previous proof of concept project, we are now looking at ways to deploy enterprise-level solutions that can deliver trust, security and speed.”
Jody Cleworth, founder and CEO of MTI, also spoke about the MoU: “Blockchain-enabled technology has the potential to provide a transparent, secure and accurate way of capturing and sharing data with key parties.
“The logistics industry is awash with proprietary technology that forces users to work in a certain way – 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.”