Yesterday the Global Shipping Business Network (GSBN) announced its blockchain platform is live with four hosting partners after launching its first application in July for cargo release. Non profit GSBN is backed by COSCO SHIPPING lines (COSCO) and ports, Hapag-Lloyd, Hutchison Ports, OOCL, SPG Qingdao Port, PSA International, and the Shanghai International Port Group (SIPG).
As a result, it claims that its partners handle one in three containers shipped around the world. The network aims to digitalize maritime trade using blockchain.
CargoSmart originally developed the technology, but when GSBN incorporated in Hong Kong earlier this year, it was announced that new Hong Kong startup IQAX would be the technology provider. However, some team members also work for Cargo Smart.
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