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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.

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