Global Shipping Business Network (GSBN) blockchain international trade platform officially launched

Recently, the Global Shipping Business Network ( GSBN) announced the official launch of the blockchain international trade platform , which uses the technologies of four global technology companies, namely Ant Chain, Alibaba Cloud, Oracle and Microsoft. Among them, the technical support for the trade operation platform in China is Ant Chain and Alibaba Cloud. The newly launched platform is built on blockchain technology and aims to transform the traditional international shipping process, improve the level of supply chain collaboration, and drive the digital transformation of the shipping industry.

GSBN is the world's first independent, non-profit shipping blockchain alliance, jointly established by eight world-renowned shipping and port companies, with the total business volume of founding members accounting for one-third of the global container handling volume. Founding members include: COSCO SHIPPING Lines, COSCO SHIPPING Ports, Hapag-Lloyd, Hutchison Ports, OOCL, Shanghai International Port Group, Shandong Port Qingdao Port and PSA International Ports Group.

On the afternoon of September 1, 2021, CULINES also successfully held an online signing ceremony for a cooperation agreement with GSBN, officially joining GSBN as a new member of the alliance.

Blockchain is a hot word in recent years, and various fields are actively exploring how to use blockchain technology to promote the development of their respective fields. It is a term in the field of information technology. In essence, it is a shared database, and the data or information stored in it has the characteristics of "unforgeable", "full traceability", "traceability", "openness and transparency", and "collective maintenance". Based on these characteristics, blockchain technology has laid a solid foundation of "trust", created a reliable "cooperation" mechanism, and has broad application prospects.

In order to build a global trade operating system blockchain network, GSBN cooperates with Oracle and relies on Oracle Cloud Technology Blockchain Platform to achieve collaboration between different market players . To ensure data security , all data will be encrypted before being sent to the GSBN platform . No one can have the right to view the data without authorization .

In terms of deployment in China, Ant Group's Ant Chain provides an efficient and reliable enterprise-level blockchain platform based on innovative technologies such as blockchain, secure computing, and the Internet of Things .

In addition, earlier this year, GSBN also announced that it had selected IQAX as its technology partner to develop and operate a blockchain platform.

GSBN was incorporated in Hong Kong earlier this year and launched its Cargo Release freight service in China last month , subsequently announcing that the product will also be available in Hong Kong, Singapore and Laem Chabang, Thailand. This is the first freight service based on blockchain technology, which can reduce the time of freight delivery from days to hours.

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