Chilean shipping firms allowed to create a blockchain platform

Chilean FNE (National Economic Prosecutor’s Office) recently decided to allow nine of the country’s maritime cargo shipping firms to join forces and create a blockchain platform. This would be the first venture of this kind in the region, and it will likely significantly improve the shipping process.

Blockchain-based shipping platform to be developed in Chile

Blockchain technology’s use for improving supply chains is well-known throughout the world, and this tech has been used multiple times for such purposes. One example is the Netherlands’ Port of Rotterdam, which launched a pilot based on blockchain technology.

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The pilot has attracted some of the largest shipping firms in the industry, as it promises to improve the efficiency and safety of millions of shipments per year.Now, Chile plans to use it for this industry, as well.

According to the information published by MundoMaritimo.cl, the platform will be known as GSBN, or Global Shipping Business Network. It will primarily be used for handling maritime cargo document issuance, cargo clearance, and similar purposes.

While the platform will be created by the nine firms that started the initiative, it will eventually be offered to other firms in the industry, as well.

Its developers will include Qingdao Port, OOCL, Hapag-Lloyd, PSA, SIPG, Cosco Shipping Ports, Hutchison Ports,, CGM, CMA, Cosco Shipping Lines, and Hutchison Ports. However, while it is known which firms will develop the platform, the budget issued for its development remains unknown.

The platform will pose no danger to those who don’t use it

Of course, the platform will not be transferring commercially sensitive data. Thanks to this information, it is known that the concerns regarding the platform’s use for facilitating coordination between the Shipping Constituents is unnecessary.

However, it is also known that the project was presented to a number of competition agencies from various nations, including South Korea, Ukraine, Poland, and even the US.

Whether or not they see the project as a potential opportunity or a potential problem is unclear, as none of them have revealed their opinions of it at this point in time.