Guangzhou Port signs blockchain alliance with GSBN

Guangzhou Port Group signed a blockchain alliance contract with the Global Shipping Business Network (GSBN) online on July 28.

Seven other port groups in China such as Zhejiang Sea Port Group, Jiangsu Port Group and Tianjin Port Group also signed the contracts with GSBN.

GSBN started official operations on March 17 in Hong Kong, and is the first independent and non-profit shipping blockchain alliance around the world. It is aimed to establish an operating system powered by blockchain technologies to promote the transformation of the global shipping industry and to make global trade more convenient. 

Currently, the system developed by GSBN has been applied at several domestic ports to eventually make them world-class. 

Officials from the Guangzhou Port Group said that real-time sharing of cargo data between different transport processes such as between the cargo carrier and the port to simplify procedures, will increase overall efficiency. 

Representatives from GSBN noted that it will work with all its shareholders and members to become a leader in the digital transformation of the shipping industry, and explore more applications of blockchain technologies in smart transportation.