Samsung SDS and AMRO to action blockchain in transportation logistics
Samsung SDS and ABN AMRO will collude on a trial project that implements blockchain to shipping logistics, the companies have announced.
The South Korean IT firms and Netherlands bank will join Nexledger and Corda their blockchain platforms. The project is forecasted to complete by February next year.
The collaboration intends to apply blockchain into goods departing from Asia that land in the port of Rotterdam.
The goal is to decrease transaction times for imports and exports, share related reports, and prevent duplicity.
Samsung SDS and ABN AMRO will later expand the routes it applies to and will aim to equate with other companies’ blockchain platforms.
The South Korean conglomerate last year produced a blockchain consortium of local logistics firms to test its Nexledger platform.
Samsung originated the separate chain service last year in April and has since utilized it to its finance platform, Nexfinance, began earlier this year.