The UK’s leading port driver, Associated British Ports (ABP), has actually authorized a Memorandum of Understanding (MOU) to produce among Europe’s very first in-depth pilot programs to take a look at the execution of blockchain modern technology to enhance port connection.

The MOU was authorized today with Marine Transport International, a logistics software application business that concentrates on blockchain.

ABP runs 21 ports throughout the UK, managing 25% of the nation’s seaborne freight.

“We handle almost 100 million tonnes of cargo across all sectors every year so we are a significant gateway for our customers’ supply chains,” claimed Jens Skibsted Nielsen, Commercial Director at ABP. “This MOU with MTI is a demonstration of our commitment to technical innovation and finding new ways to improve the UK’s supply chains.”

Ron Crean, Group Head of Marketing for ABP and also leader of this job, 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.”

As component of the contract, ABP will certainly devote to taking part in MTI’s blockchain option in pilot deliveries. Currently, each celebration in a supply chain, from carrier to hauler and also port driver to provider, makes use of various systems, which do not all speak to each various other effectively. MTI’s modern technology might supply a method to firmly connect these diverse means of functioning and also might link the silos to minimize time invested in by hand coming back information.

“Blockchain is the buzzword of the logistics industry at the moment,” claimed Jody Cleworth, owner and also chief executive officer of MTI. “Yet some of the projects making a big splash are blockchain in name only. Blockchain-enabled technology has the potential to provide a transparent, secure and accurate way of capturing and sharing data with key parties, but for MTI the critical part is interoperability – it has to be able to openly connect with existing systems. 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.”