Copy link
Increase text size
Decrease text size
Link copied

Tesla completes blockchain pilot in importing goods to China

Image by chaslruss1977 from Flickr

Wed, 08 Apr 2020, 13:21 pm UTC

CargoSmart announced today that U.S. electric car manufacturer Tesla has partnered with the Shanghai International Port Group (SIPG) to test if blockchain can make importing goods into China easier.

The first pilot project comes with an ocean carrier conducting a real-time exchange of shipment data with a terminal operator through blockchain. The pilot has the benefits of having a single, trusted source of truth in cargo documentation and efficiency gains for industry participants.

The application is expected to accelerate the process because it digitalizes the shipping industry processes and optimizes the global supply chains. It also minimizes the consignee and shipping verification steps which speeds up the release of sea waybills.

“The pilot is a key component of our journey towards paperless, trusted, and seamless trade processes at the Port of Shanghai, and it demonstrates the benefits for supply chain stakeholders around the world. We look forward to extending the collaboration with more supply chain stakeholders to render extraordinary service to our community,” said Henry Huang, Executive DGM of Operation & Business Department of SIPG.

“The pilot with SIPG and CargoSmart showcased significant efficiency gains not only in the cargo release process but also for downstream supply chain planning by presenting a single source of truth for documentation for all involved parties. We look forward to more blockchain-based applications that can create value for customers and the industry alike,” added Wu Yu, General Manager of Business Process & System Division of COSCO.

The pilot was successful in showing that the unique collaboration model between the ocean carriers and terminal operators can create benefits for stakeholders along the global supply chain. The cargo release application will promote carrier terminal data exchange and streamline the operations.

The application will unleash the full potential of the proposed GSBN platform. Once it is established, it will be further developed for participants of the Global Shipping Business Network (GSBN) blockchain consortium.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Moses
  • 2020.05.12 16:44:24
I am a cryptocurrency trader and i make over 200% daily, If you are interested,i can teach you how to trade and also help you achieve your goal in life with crypto i can turn
$4500 into $35000 in less then four weeks,now that bitcoin has low prices...please note that cryptocurrency trading is bitcoin unlike binary and Forex,bitcoin is traded for altcoins also you can reach to me if you are new to bitcoin and to give you more info and guideline on how to invest smartly, this is opportunity life time knocking on your door inbox me for more info....contact me on whatsapp :+12067425358 happy new year to you all .
  • 0
  • ·
  • 0
  • Moses
  • 2020.05.12 16:43:58
I am a cryptocurrency trader and i make over 200% daily, If you are interested,i can teach you how to trade and also help you achieve your goal in life with crypto i can turn
$4500 into $35000 in less then four weeks,now that bitcoin has low prices...please note that cryptocurrency trading is bitcoin unlike binary and Forex,bitcoin is traded for altcoins also you can reach to me if you are new to bitcoin and to give you more info and guideline on how to invest smartly, this is opportunity life time knocking on your door inbox me for more info....contact me on whatsapp :+12067425358 happy new year to you all .
  • 0
  • ·
  • 0
More
  • Bitcoin (BTC) $11,591.40 (-1.66%)
  • Ethereum (ETH) $379.94 (-3.79%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $302.74 (-2.35%)
  • Bitcoin SV (BSV) $228.71 (-3.49%)
  • Bitcoin (BTC) $11,591.40 (-1.66%)
Feb 21, 2020 (Friday)
12:01
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
12:00
Brazil to launch new payment system in response to cryptocurrencies
11:59
Digital currency exchange Coinbase Pro lists Kyber Network token
11:57
Norwegian Air to soon start accepting crypto payments
10:21
Swedish central bank begins CBDC pilot with Accenture
09:51
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
14:16
Telecom companies complete cross-carrier mobile payments using blockchain
11:53
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
11:00
South Korean ICO project discontinued, to return $7.5M to token holders
10:36
Samsung maintains crypto support in soon-to-launch Galaxy S20
09:41
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
09:15
Coinbase becomes first crypto company to receive Visa principal membership
08:59
Dubai Economy and six banks launch KYC Blockchain Consortium
08:26
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
07:12
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
06:13
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
05:02
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
04:56
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
04:35
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
12:46
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft