Switzerland-based global transport and logistics company, Kuehne + Nagel has for the first time leveraged the benefits of blockchain technology in a large scale operational environment with 800,000 transactions per month along with upgrading their well-established VGM Portal.
Kuehne + Nagel can now offer shippers an enhanced solution that provides new features that improve the ease of doing business coupled with a transparency on the VGM status of all customer shipments.
Adding to blockchain’s natural features of immutability and traceability, Kuehne + Nagel devised and designed the solution to strictly fulfil industry requirements of data privacy and confidentiality.
Chief Information Officer for Kuehne + Nagel International AG, Martin Kolbe explained, “The list of promises related to the use of blockchain in the logistics industry is long, but actual real-world applications are hard to find. The Kuehne + Nagel VGM Portal solution jointly developed by our sea freight experts and our IT team allows us to get a true hands-on experience with blockchain technology in an on-premise production environment and with a high number of transactions. Our customers benefit from a tamper-proof solution for information exchange with third parties with improved efficiency and higher transparency. Kuehne + Nagel engages in a number of blockchain projects with customers, suppliers and governmental bodies addressing industry challenges in various domains, as the full potential of blockchain can only be exploited when collaboratively working together with business partners. Our involvement in a consortium engaged in the digitalization of bill of ladings for sea freight is the best example. Operating the VGM Portal on blockchain in an operational high volume environment delivers valuable learnings and expertise for the development of joint blockchain applications.”
In 2016 Kuehne + Nagel launched the first version of their VGM Portal, giving shippers a convenient solution for filing their VGM declarations. Now, with the integration of blockchain technology, further facilitation of the data exchanges between the different partners can be achieved.