Blockchain Pt II: Powering Port Collaboration

The world has become a system of interconnected systems brought on by the Fourth Industrial Revolution (4IR). Extensive connectivity should, in principle, improve and reinforce collaboration. Advantages and benefits of business collaboration, whether vertically, horizontally or in geographic areas, have been demonstrated. Vertical collaboration, i.e. the alignment along the chain of suppliers, manufacturers, sales channels, customers and consumers is simply a necessity. 'eographic collaboration, e.g. in cities and corridors, is promising but in its digital infancy. Horizontal collaboration is an exception with high potential. In the port industry collaboration can reduce congestion, improve safety and security, and make the flow of goods more even and fluid.

Our new interconnected environment needs one ingredient as old as time: Trust. Blockchain, the most well-known of enablers of distributed ledger technology (DLT) is seen as the agent of trust in the digital world. 

Wolfgang Lehmacher, Author, Global Executive, Advisor, Entrepreneur, and expert in the field of Supply Chains, Transport and Logistics, The World Economic Forum (WEF)

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