Technology

CargoSmart to Simplify Shipping Documentation with New Blockchain Initiative

CargoSmart to Simplify Shipping Documentation with New Blockchain Initiative
Logistics Manager

San Jose-based CargoSmart Limited, a provider of solutions that help shippers, consignees, logistics service providers, and NVOCCs manage their shipments throughout the supply chain has recently announced a new initiative to develop a blockchain solution for shipment documentation that will aim to improve the often complex supply chain processes.

Current shipping document handling processes are very complicated and still include outdated paper processes that involve numerous stakeholders across the world. Many global shipping companies have varying ranges of technical proficiencies and capabilities deferring data standards which results in documents being exchanged in several different formats such as email, online forms, and Electronic Data Interchange (EDI).

The new blockchain solution devised by CargoSmart will simplify the shipping documentation process, in turn increasing trust and improving efficiency. The new system will reduce the risk of mis-declaration while speeding up the filing process. As with all shipping, if the documents are submitted accurately and timely, the cargo can continue to move.

CEO for CargoSmart, Steve Siu said: “Blockchain technology provides immutable records and a trusted network to offer secure and traceable documentation, providing a solution for supply chain parties to auto-fill repeated and verified information can dramatically increase data accuracy and efficiency for the whole logistics process.”

The company has been working in conjunction with Oracle who recently unveiled the Oracle Blockchain Cloud Service. The Oracle service enables organizations to easily build blockchain networks to drive more secure and efficient transactions along with tracking goods along the supply chain across the world.

Oracle Cloud Platform Executive Vice President, Amit Zavery said, “Maritime shipping is essential to global trade, but it often suffers from inefficiencies in the complex documentation processes across many involved parties.”

Mr. Zavery concluded with “CargoSmart’s new solution, powered by Oracle’s blockchain cloud platform can help engender trust and confidence in the ecosystem. It gives users across the entire shipping ecosystem a trusted, secure, scalable, and resilient means to share information, helping to speed up turnaround time, reduce disputes and lower costs.”

More in Technology

One of the world’s biggest logistics companies, Kuwait headquartered Agility, recently announced a major new investment of $100 million over three years to develop and launch Shipa.com. The new digital platform will allow businesses, entrepreneurs and consumers to manage their freight, e-commerce, and urban deliveries online. Chairwoman for Agility, Henadi Al-Saleh said, “Shipa.com makes life easier through technology, whether you are a small business running your supply chain with a few clicks, or a consumer getting your shopping delivered with a few taps on your phone, Shipa.com makes logistics convenient, jargon-free, trackable, accountable and accessible.” Shipa.com will provide the following services: Shipa Freight that will allow small businesses to get instant and transparent freight quotes along with the ability to book, pay and track ocean and air shipments around the world on any mobile or another digital device. Shipa E-commerce enables online merchant’s access to the world’s most complex and fastest growing e-commerce networks. The service will integrate freight, fulfilment, delivery and returns solutions throughout the Arabian Gulf, along with additional reach in Africa and Europe planned for the future. Shipa Delivery will provide businesses and consumers with on-demand same-day, next-day or cross-border delivery across the whole region of Arabian Gulf. Al-Saleh added, “Logistics is the backbone of commerce. But it’s complex, and that complexity is disproportionately difficult for small businesses to navigate. Small businesses often lack access to the logistics resources, tools and solutions that larger businesses have,” “No wonder then, that we interviewed 800 small and medium-sized businesses around the world, we found that 78% wanted to see their logistics move online. Shipa helps close that gap, empowering small businesses to take advantage of the opportunities being created by the global digital economy.” Considered by Al-Saleh as the innovation arm of Agility, Shipa.com will hasten the introduction of technology, development of new digital products. Al-Saleh concluded, “Shipa.com is the marriage of Agility’s logistics expertise and resources and the digital-first capabilities of the Shipa platform. It offers enormous value for our customers and brings new value to our company.”

Agility Invest $100M to Develop and Launch Shipa Digital Platform

Logistics ManagerDecember 13, 2018
E2open Acquire INTTRA to Create a Unified Network

E2open Acquire INTTRA to Create a Unified Network

Logistics ManagerOctober 30, 2018
KPMG Thailand Partners UiPath to Provide Customers Robotic Process Automation (RPA)

KPMG Thailand Partners UiPath to Provide Customers Robotic Process Automation

Logistics ManagerOctober 5, 2018
XPO Logistics to Install 5,000 Intelligent Robots in North America and Europe

XPO Logistics to Install 5,000 Intelligent Robots in North America and Europe

Logistics ManagerOctober 5, 2018
HHLA and MAN begin Hamburg TruckPilot Project

HHLA and MAN Begin Hamburg TruckPilot Project

Logistics ManagerOctober 5, 2018
Kuehne + Nagel Integrates Blockchain Technology with their VGM Portal

Kuehne + Nagel Integrates Blockchain Technology with their VGM Portal

Logistics ManagerSeptember 20, 2018
Kalmar to develop World's First Digitalized Zero Emission Solution for Yara Birkeland

Kalmar to Develop World’s First Digitalized Zero Emission Solution for Yara Birkeland

Logistics ManagerMay 28, 2018
Siemens to Acquire Software Framework Provider J2 innovations

Siemens to Acquire Software Framework Provider J2 Innovations

Logistics ManagerMay 24, 2018
DHL and IBM Release Artificial Intelligence in Logistics Report

DHL Supply Chain Launch MySupplyChain

Logistics ManagerMay 18, 2018
LM is the leading source of logistics and cargo news within ASEAN and is regarded as one of the most authoritative sources of information. Our subscribers keep up to date with the latest logistics news, views, features and events within ASEAN and beyond.
AFL Real Logo

Airfreight Logistics is the air cargo professional’s number one provider of news and information in ASEAN and around the World. To keep abreast of all the latest news and for in-depth features visit our website www.airfreight-logistics.com

UpMedio

Subscribe to our newsletter!

© 2015 Logistics Manager | About Us | Advertise | Subscribe | Contact | thai Thai Version