Port of Valencia has started to use blockchain

Verified
2 weeks ago
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Thanks to the blockchain technology the TradeLens platform, launched in August of this year, coordinates the actions of all participants in the supply chain, including shipping lines, port and terminal operators and customs authorities.

Currently, in the TradeLens ecosystem there are more than 20 participants who have taken on the mission to contribute to the early development of the platform. The fact that the PAV has now joined the platform has also become known from the official announcement of the port administration on Monday, November 5th. However, for the first time, plans for the creation of a “smart-port” PAV were voiced in early October.

TradeLens reportedly cuts delivery time by 40% and has already processed 154 million “data transfer events”, such as shipping containers, warehousing time, and customs documentation.

Earlier Bitnovosti wrote that the blockchain could revolutionize the sea freight. Last month, Europe’s largest port of Rotterdam also began testing blockchain platforms for the supply chain, developed jointly with the Dutch bank ABN AMRO and a subsidiary of Samsung. And in September, the leading British port operator, Associated British Ports, signed an agreement with the digital logistics division of Marine Transport International to create a blockchain solution that improves logistics within the company.