• Wed, 21 Aug 2019, 12:08 PM
  • All times are UTC
  • Edition:
Copy link
Increase text size
Decrease text size
Link copied

Thales and MGI enter blockchain partnership for safer, more efficient cargo shipping

Cargo Ship.Three-shots/Pixabay

Fri, 21 Jun 2019, 05:17 am UTC

In another case of blockchain beginning to affect entire industries on a global scale, France-based software firm MGI is partnering with Thales for a major shake-up in cargo shipping. This team-up is intended to give the Ci5 Cargo Intelligent System blockchain capabilities, thus improving its collaborative framework. This will then bring an increased level of trust, transparency, and efficiency in cargo shipping.

In a press release announcing the new partnership, MGI Information Systems and Operations Director, Alain Perez explained how the collaboration is beneficial for all parties involved. There was a special emphasis on how the incorporation of blockchain into the Ci5 system makes it more effective.

“The expertise provided by our partner, Thales, enabled us to incorporate blockchain technology into our Cargo Intelligent System, Ci5," he said. "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."

Thales Digital Services VP, Joël Derrien then followed that up with more clarifications as to exactly what its services will be bringing to the table. By essentially making sure that there will be no opportunities to falsify any data, there will be fewer instances of criminal issues coming up.

“The blockchain technologies that Thales is working on are helping create decentralised, unfalsifiable and secure digital ledgers. The Cargo Community System we developed with MGI is a perfect example of how blockchain technology can help professionals who are looking for smooth collaborative communication without compromising data security and reliability,” Derrien explained.

Data alteration and the falsification of information in the shipping industry has been an issue for centuries. The use of blockchain effectively gets rid of this particular worry that has been plaguing the cargo shipping market since the beginning. This is a first in the industry, as well, effectively branding MGI as a pioneer.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $10,187.00 (-4.61%)
  • Ethereum (ETH) $188.03 (-4.71%)
  • XRP (XRP) $0.265000 (-3.65%)
  • Bitcoin Cash (BCH) $301.30 (-5.41%)
  • Litecoin (LTC) $72.26 (-4.28%)
  • Bitcoin (BTC) $10,187.00 (-4.61%)
Aug 21, 2019 (Wednesday)
Thailand’s Siam Cement Group seeks to expand Corda-based ‘Procure to Pay’ solution to 2,400 suppliers by 2020
Crypto Technicals: BCH/USD rejected at cloud, violation at 200-DMA to open up downside
Blockchain settlement startup Fnality adds former UBS and IMF executives to management team
Austrian telecom giant A1 to offer cryptocurrency payment option
Japan's Amaten, Aelf to revolutionize gift card market using blockchain
Crypto Technicals: Monero (XMR) recovery falters at major trendline resistance, slips below cloud
Blockchain securities issuance platform iownit.us obtains approval from FINRA
Crypto Technicals: ETH/USD struggles to extend gains beyond $200 mark, bias bearish below 200-DMA
Square Crypto hires Blockstream co-founder Matt Corallo to boost bitcoin adoption
Commonwealth Bank of Australia develops blockchain-based marketplace and token to protect biodiversity
Crypto Technicals: Bitcoin fails to take out $11K mark, tumbles below 55-EMA support (10428)
EMURGO inks MOUs with South Korean trade associations to boost Cardano adoption
China may launch its central bank digital currency ahead of Facebook's cryptocurrency Libra
Winklevoss twins may partner with Facebook on cryptocurrency
Malta-based crypto exchange CGEX to shut down after less than a year of operation
Bank of America files patent for multi-tiered crypto wallet
Aug 20, 2019 (Tuesday)
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
HSBC inks agreement to tap Identitii’s blockchain-based information exchange platform ‘Overlay+’
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Crypto Technicals: XRP/USD fails at 21-EMA, resumes weakness with 'Doji' formation
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.