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            december 10, 2019

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Kerry Logistics, Deloitte, CargoSmart boost supply chain with blockchain


Kerry Logistics, Deloitte, and CargoSmart are deploying blockchain technology, after successfully linking multiple distributed ledger technology (DLT) networks, in an effort to create a document exchange platform that can also facilitates the track, trace and monitoring of cargo shipments along the supply chain in real time, according to Shipping Gazette.
Completed this December, the platform's proof-of-concept (POC) is interoperable across different DLT and cloud networks commonly used by participants in global trade and finance.
"Distributed ledger is a technology that could simplify the complicated transactions in logistics operations. When we eliminate redundant processes, we can bring new benefits to our customers and to the planet."
The company regards blockchain to be the solution for "ultimate supply chain optimisation and is trying all means to be in the vanguard of this revolution," it said in a statement.
"A healthy logistics ecosystem is paramount in global trade but complicated documentation has been a structural problem. Document digitalisation is not just the first step, but also a ground-breaking step in the transformation of the logistics industry," said Kerry Logistics group director of information technology Wilson Lee.
In addition to facilitating document coordination, DLT speeds up approvals, provides updated and secure data for informed decisions, and offers a source of truth for all participants, especially banks, insurance companies and other financial institutions.
"We therefore expect even greater benefits from DLT applications for shippers, forwarders, carriers and other players at large in the future," added Deloitte Asia Pacific blockchain lab leader Dr Paul Sin.
"Deloitte is grateful for the opportunity to help Kerry Logistics embark on the journey towards a more trustworthy, efficient ecosystem, leveraging CargoSmart's connectivity with major carriers and terminals."

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