Shipping firm Wallenius Wilhemsen has invested in Vinturas, a blockchain platform owned by the major logistics firms that distribute finished cars in Europe. Existing investors include Axess Logistics (Sweden), Koopman Logistics (Netherlands), NVD (Ireland), Autolink (Norway), and Groupe CAT (France). Santander Consumer Finance is the only non-logistics company that is a shareholder.
Vinturas says that the supply chain crisis has increased demand for its technology solutions from manufacturers, fleet owners, logistics firms and carriers.
“We have seen that there is high demand for our blockchain network solution which empowers logistics networks and collaboration, but does not directly access the data of our customers – delivering security and privacy, alongside digital transformation,” said Ronald Kleijwegt, CEO, Vinturas.
By digitalizing the logistics of finished cars from the factory to dealer, in addition to efficiencies, it’s also possible to add value. For example, dealers know the estimated arrival time of new car deliveries, allowing manufacturers and fleet owners to manage logistics in real-time.
“The Vinturas blockchain solution is particularly exciting, as it goes beyond traditional event-based platforms that access and monetize customer data, to instead provide a secure, private network for partners to collaborate and share data only with the partners of their choosing,” said Simon White, EVP & Chief Digital Officer, Wallenius Wilhelmsen.
Vinturas was founded in 2019 with IBM as the technology partner using enterprise blockchain Hyperledger Fabric. Aman Sharma, Blockchain Strategy Consultant at IBM commented on the announcement that the solution is more than tracking location or status data. He said its “also (for) quality inspection, dispute resolution and odometer readings to name a few. And not just land transportation in Europe but a global sustainable footprint linked up by deep sea shippers.”
The automotive sector is using blockchain for various use cases, including supply chains. For example, several manufacturers such as Tesla, Polestar, Jaguar Land Rover and Porsche are trialing the technology for traceability to demonstrate sustainable sourcing. Another ESG related application is recharging electric vehicle batteries and potentially using them for renewable energy storage. Additionally, blockchain is being widely trialed for connected vehicles. And several manufacturers have jumped on the marketing bandwagon to release NFTs, including Porsche, McLaren, and Lamborghini.