Insights - March/April 2018 - 23
Blockchain
Presented as Option
to Aid Intermodal Information Flow
T
he concept of using emerging blockchain technology to improve the supply chain, and
the visibility of freight moving intermodally across it, is gaining increasing attention.
Blockchain has been described broadly as a distributed,
web-based method of record-keeping that can accelerate
transactions while also enhancing accuracy and security. Each
"block" of data is "chained" together with unique output stamped
onto each succeeding piece of data. It is shared with digital
signatures, giving each participant access to a ledger shared in
real time.
Early in 2018, ocean carrier A.P. Moller - Maersk and IBM
drew significant attention by announcing a blockchain venture
which was presented as "a jointly developed global trade digitization platform." The stated goal was to increase data transparency
as transactions were executed faster, with lower costs.
The process is being designed to share benefits to partners
throughout the global intermodal freight network, including
manufacturers, shipping lines, freight forwarders, port and
terminal operators and customs authorities.
Blockchain is appealing, Maersk and IBM said, because
of potential cost reductions in trade documentation. Such
documentation represents as much as 20 percent of the $4
trillion cost in worldwide cargo shipping, which primarily moves
through ocean freight. During March, the joint venture CEO
Michael White said 24 companies already have signed up to
participate.
The companies have been conducting pilot tests of
blockchain since their collaboration began in June 2016, but
some regulatory hurdles still exist.
March/April 2018 | Intermodal Insights
23
Table of Contents for the Digital Edition of Insights - March/April 2018
IANA News
Washington Begins Work on Infrastructure
Equipment Condition, DVIRs Benefit Terminal Throughput
Effective Steps Can Be Taken When Terminal Capacity Is Tight
Freight Report
Chassis Market Changes Focus on Pools, Efficiency
Blockchain Presented as Option to Aid Intermodal Information Flow
Buying Decisions, Truck and Real Estate Costs Transform Transloads
Gender Diversity Makes Good Business Sense
Government News
International Intermodal News
Intermodal Information Services News
New Members
People News
Intermodal Calendar
Insights - March/April 2018 - Cover1
Insights - March/April 2018 - 2
Insights - March/April 2018 - 3
Insights - March/April 2018 - IANA News
Insights - March/April 2018 - Washington Begins Work on Infrastructure
Insights - March/April 2018 - 6
Insights - March/April 2018 - 7
Insights - March/April 2018 - 8
Insights - March/April 2018 - 9
Insights - March/April 2018 - 10
Insights - March/April 2018 - Equipment Condition, DVIRs Benefit Terminal Throughput
Insights - March/April 2018 - 12
Insights - March/April 2018 - 13
Insights - March/April 2018 - 14
Insights - March/April 2018 - Effective Steps Can Be Taken When Terminal Capacity Is Tight
Insights - March/April 2018 - 16
Insights - March/April 2018 - 17
Insights - March/April 2018 - 18
Insights - March/April 2018 - Freight Report
Insights - March/April 2018 - Chassis Market Changes Focus on Pools, Efficiency
Insights - March/April 2018 - 21
Insights - March/April 2018 - 22
Insights - March/April 2018 - Blockchain Presented as Option to Aid Intermodal Information Flow
Insights - March/April 2018 - 24
Insights - March/April 2018 - 25
Insights - March/April 2018 - 26
Insights - March/April 2018 - Buying Decisions, Truck and Real Estate Costs Transform Transloads
Insights - March/April 2018 - 28
Insights - March/April 2018 - Gender Diversity Makes Good Business Sense
Insights - March/April 2018 - Government News
Insights - March/April 2018 - 31
Insights - March/April 2018 - 32
Insights - March/April 2018 - International Intermodal News
Insights - March/April 2018 - 34
Insights - March/April 2018 - Intermodal Information Services News
Insights - March/April 2018 - New Members
Insights - March/April 2018 - 37
Insights - March/April 2018 - 38
Insights - March/April 2018 - Intermodal Calendar
Insights - March/April 2018 - 40
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