Today South Korea’s Ministry of Science and Technology and the Ministry of Maritime Affairs and Fisheries
announced the launch of a pilot blockchain system for tracking containers in the Port of Busan.
According to the statement, the port is the second largest port of transit in the world after Singapore. This relates to transshipment where containers are switched from one vessel to another and Busan accounts for 16% of total volume. Overall the port is the 5th busiest in the world (Source:
Marine Insight).
The task of moving containers between ships makes efficient systems critical. It’s not just a matter of containers moving between vessels but also between different terminals at the port. The Ministries envisions blockchain as smoothing the movement of containers between piers, reducing data errors.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
