A partnership including CargoSmart Limited, Cosco Shipping Lines (COSCO), Shanghai International Port Group (SIPG) and Tesla has tested a blockchain-based cargo delivery application. The application was able to significantly shorten the unloading time required, and made it quite easy for Tesla’s logistics teams to control the unloading process.
Tesla Will Use a Blockchain Based Application
A pilot project was announced with a press release by CargoSmart Limited. This project is preparing to be released as a product of partnership with COSCO, SIPG and Tesla.
The first test was carried out in December 2019, and a real-time shipment was exchanged between an ocean liner and a terminal operator via blockchain. This project will enable transparent documentation and users to work more efficiently. In addition, the pilot project under test minimizes the verification steps between the ocean ships and the shipping agency. Thus, sea trade is accelerating significantly. As a result, it means that truckers can pick up the cargo at the port faster, which speeds up deliveries.
Henry Huang, Executive Director of SIPG Operations and Operations, explained the project as follows:
“The application will be an important component of our journey towards paperless, reliable and uninterrupted trading processes at Shanghai Port, and the supply chain partners around the world will also benefit. We hope to expand cooperation with more supply chain partners to provide exceptional service to our community. ”
According to Wu Yu, General Manager of COSCO’s Business Process and System Division, the application pleased all parties and said that it will spread more in the blockchain sector.
“The application with SIPG and CargoSmart has demonstrated significant efficiency gains for downstream supply chain planning, not only in the cargo evacuation process but also by providing a single true source for documentation for all interested parties. We expect more blockchain-based applications that can create value for customers and the industry. ”