GSBN: Blockchain platform for container transportation

2021: Launch of blockchain platform for digitalization of third of container traffic

In mid-September 2021, Global Shipping Business Network launched a new blockchain-based platform that could potentially track a third of sea containers around the world.

Global Shipping Business Network (GSBN) was founded in October 2020 by eight global national shipping companies to create a blockchain platform, the company has the goal of digitizing shipping processes, such as issuing documents, registration and other logistical data.

Members of the GSBN nonprofit consortium are said to provide one in three containers handled in the world and this can soon be confirmed on the blockchain when the platform is fully used.

GSBN blockchain platform launched to digitalize a third of container traffic

GSBN announced the launch of a new blockchain platform on September 8, 2021 in partnership with Oracle, Microsoft Azure, AntChain and Alibaba Cloud.

GSBN noted that the partnerships were looking for geostrategic goals, such as Oracle's global trading operating system and Azure's reliability of services in Southeast Asia. GSBN uses the services of Ant Group and Alibaba Cloud, which will be used for deployment in China.

The methods to ensure the control of information by GSBN will be as follows, the data will be encrypted before being sent to the blockchain platform, which means that participants will not be able to access the data without authorization. The consortium also emphasized that blockchain technology allows it to cooperate with disparate and often competing market participants.

In July 2021, GSBN launched its first blockchain-based application in China, called Cargo Release, which was directly designed to accelerate data processing time by eliminating paper documents and storing data on the blockchain.^[1]

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