MGI, a specialist in streamlining data exchange, has announced its cooperation with Thales to integrate blockchain technology into its Ci5 Cargo Community System (CCS).
This evolution of the Ci5 solution, according to the company, will allow its clients to act as trusted third parties when key statuses are validated for the release of goods from shipping terminals.
In addition, the new module will also make MGI the first CCS provider in the world to offer integrated blockchain technology as part of its intelligent cargo service.
A recent Port Technology technical paper looked at blockchain's potential for increasing supply chain collaboration
Of the key statuses which have been “blockchained” in Ci5, adding another tracking and security layer for supply chain events, shipping release, forwarder release and customs release will all be validated under the upgraded system.
Alain Perez, Director of Information Systems and Operations (DSIO) at MGI, said: “The expertise provided by our partner, Thales, enabled us to incorporate blockchain technology into our Cargo Intelligent System, Ci5.
“It’s a brand-new innovation for this type of system. Besides improving the security and traceability of transactions, blockchain technology essentially makes all the operators that use Ci5 trusted third parties.”
— Port Technology (PTI) (@PortTechnology) May 30, 2019
Joël Derrien, Assistant General Director of Digital Services at Thales, also commented on the importance of collaboration: “The blockchain technologies that Thales is working on is helping create decentralized, unfalsifiable and secure digital ledgers.
“The Cargo Community System we developed with MGI is a perfect example of how blockchain technology can help professionals looking for smooth collaborative communication without compromising data security and reliability.”