EUROPEAN logistics giant Kuehne + Nagel has announced the deployment of blockchain technology for its verified gross mass portal.
The solution aims to provide shippers with new features to improve ease of doing business as well as the transparency on the VGM status of all customer shipments.
Information submitted via the portal is stored on-chain, allowing for the using of native blockchain interfaces for data exchange with third parties.
According to the company, Kuehne + Nagel designed the solution to fulfil industry requirements of confidentiality and data privacy, adding to the standard blockchain features of immutability and traceability.
Kuehne + Nagel International chief information officer Martin Kolbe said the list of promises related to the use of blockchain in the logistics industry was long, but actual real-world applications were hard to find.
“The Kuehne + Nagel VGM Portal solution jointly developed by our sea freight experts and our IT team allows us to get a true hands-on experience with blockchain technology,” Mr Kolbe said.
“Our customers benefit from a tamper-proof solution for information exchange with third parties with improved efficiency and higher transparency.”
The first version of the Kuehne + Nagel VGM Portal went live in 2016 to give shippers a solution for filing their VGM declarations as required for sea freight shipments from the International Convention for the Safety of Life at Sea (SOLAS).