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GSBN tests blockchain solution for safer shipping of chemical cargoes

Carriers can receive immutable safe transportation certificates which are verified with original sources

Shipping network has completed a venture with Cosco Shipping, OOCL and a research institute, on the exchange of safety certificates for the transportation of chemical cargo using blockchain technology

GLOBAL Shipping Business Network, a non-profit technology group, has completed joint research to harness blockchain technology to enhance transportation safety for chemical cargo.

With Cosco Shipping Lines, Orient Overseas Container Line, and the Shanghai Research Institute of Chemical Industry Testing, the project achieved a first proof-of-concept in the shipping industry, which ensures safe transportation certificates are immutable, structured and can be verified from the original source, according to a statement

Traditionally, shippers would collect the certificate from an accreditation body and provide the document either as a hard copy or a scanned copy to carriers. But the certificates shared in this form can be difficult to verify, carrying risks such as mislabelling and fraud.

The blockchain-based process aims to reduce human error, enhance cargo security and facilitate automated verification and data sharing among multiple parties, GSBN said.

“The use of blockchain infrastructure in this proof-of-concept with SICIT allows for systematic and trusted verification to happen directly with SICIT,” said chief executive Bertrand Chen.

Through a streamlined process on GSBN’s blockchain platform, both carriers will be able to verify certificates obtained by Chinese electrical appliance manufacturer Midea for their cargo directly with SICIT, which test and issue safe transportation certificates for chemical exports, replacing the traditional way of doing it.

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