Today the Global Shipping Business Network (GSBN) announced its first deal with the Bank of China Hong Kong (BOCHK), which will use the trade blockchain’s data for trade finance purposes.
Last month the GSBN was incorporated as a non-profit in Hong Kong to track shipping documents using blockchain. Its founding shareholders include numerous big names in Asia and beyond. They are COSCO SHIPPING LINES and PORTS, Hapag-Lloyd, Hutchison Ports, OOCL (COSCO owned), SPG Qingdao Port, PSA International and Shanghai International Port Group.
“Its industry-wide, secure, trusted data exchange platform will facilitate the sharing of data to streamline operations, improve the user experience and create value for all stakeholders in the supply chain,” said Bertrand Chen, GSBN’s CEO.
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