Last week the Port of Busan in Korea announced plans to launch a production blockchain following a successful pilot. The 5th business port in the world intends to use blockchain to track the movement of containers between terminals at the port. South Korea’s Ministry of Science and Technology and the Ministry of Maritime Affairs and Fisheries were involved in the
pilot at the end of last year.
Apart from the terminals, the test project involved five companies, including shipping and transport companies. The containers are transferred between the terminals using trucks, so the drivers used a smartphone application.
Containers being transferred from one ship to another accounts for 16% of the Port’s total volumes. In addition to efficiencies, the Port Authority hopes to reduce the number of errors. The intention is to provide real-time container information to the shipping companies, as well as data for the trucking companies.
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