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Port of Rotterdam to develop blockchain solutions

BlockLabROTTERDAM: September 25, 2017. The Port of Rotterdam Authority and the Rotterdam Municipality have launched 'BlockLab' to develop applications and solutions based on blockchain technology.

Blockchain is based on the premise that users can conduct transactions without involving a third party. Data technology guarantees the necessary checks and balances and ensures the transactions are processed automatically.

This makes it possible to structure large-scale networks, chains and markets far more efficiently than before – without the need for a dominant, regulating party says the port.

"There's this huge buzz about 'blockchain', but actually, there aren't that many fully functional applications," explained Rotterdam deputy mayor for Economic Affairs Maarten Struijvenberg. "We'll be changing this with BlockLab. This is important, because we need real innovations to launch the next economy. And blockchain can help us realize them."

"But I'm also thinking of the numerous applications that can be realized within logistics chains thanks to blockchain, allowing us to organise cargo flows more efficiently. This step is seamlessly in line with our 'smartest port' ambitions," added Port Authority president and CEO Allard Castelein.

One of the first projects is a blockchain application for stock financing in the port logistics sector, developed in partnership with Exact and ABN AMRO.

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