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Antwerp tests Blockchain for container handling

PORT OF ANTWERP: June 28, 2017. Blockchain technology start-up T-Mining has begun a pilot project with MSC to make container handling at the port more secure and efficient.

Using blockchain technology, T-Mining is testing a digitized information flow between carrier, terminal, forwarder, haulier, and shipper without a third party for increased security and reduced cost.

MSC at the port of AntwerpTraditionally, when a container arrives at the port it is collected from the terminal by a trucker or shipper using a PIN code that is also viewed by a number of intermediaries.

"We have developed a very secure solution for this," said T-Mining CEO Nico Wauters. "Currently, when we want to transfer a valuable object we generally make use of a trusted intermediary to carry out the transfer," he explained.

"For instance, when you want to sell a house, the notary not only carries out all the paperwork but also ensures that the money lands safely in your bank account while the buyer receives full title to the property, without any unpleasant surprises for either party. But this intermediary naturally does not work for free, and furthermore the additional step causes extra delay."

The blockchain solution overcomes these issues, permitting safer and faster transfer of valuable objects, fully digitized and without a middleman, according to Wauters. "With our blockchain platform the right truck driver is given clearance to collect a particular container, without any possibility of the process being intercepted. Furthermore [it] uses a distributed network, so that the transaction can go ahead only if there is consensus among all participating parties, thus excluding any attempts at fraud or undesired manipulations."

Together with a forwarder and trucker, the pilot project is testing the secure handling of MSC containers on the T-Mining blockchain platform. "Thanks to the City of Antwerp we even have an office in Singapore where we are working hard to introduce our solution there too. Our ambition is to serve the first paying customers by the end of this year," added Wauters.

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