Samsung SDS Partners With ABN AMRO And Port Of Rotterdam On Blockchain Pilot

'
samsung

A press release from Samsung made on the 22nd of October has announced that the tech giant’s IT subsidiary will be partnering with one of the major Dutch Banks, the ABN AMRO, in testing a Blockchain pilot that has been developed for use in the shipping industry.

The Merging Of Two Different Blockchain Networks

chain

According to the press release made by Samsung SDS, which is the IT and tech arm of the Korean tech giant, the pilot will be used in testing the application on Blockchain in the shipping industry and will involve containers being shipped from an undisclosed location in Asia to the Netherlands using the port of Rotterdam, which is the largest shipping port in Europe by Freight volume.

The pilot will be tested through linking Samsung’s Enterprise Blockchain, the Nexledger, with the Corda platform from ABN AMRO. The Corda platform was developed by US firm R3 which is based in New York.

ABN AMRO has claimed that for the first time in the short history of the Blockchain technology, a pilot will be bringing together two different Blockchain projects stating that this will be made possible through an overarching notary that will enable the two Blockchain networks in two entirely different locations i.e. Korea and the Netherlands to connect.

Paperless Verifiable And Time Conscious Solution For Shipping

In a traditional shipping scenario, the whole process would involve an international trade finance transaction that would see the flow of payment, administration and the transportation of the containers physically take place in separate processes that would require a manual process that was paperwork intensive.

Daphne de Kluis, who is the chief of commercial banking at ABN AMRO has stated that the pilot will be integrating all these processes starting from workflow management to track and trace and will also be digitizing paper documentation like waybills as well as handled freight and services financing. The banking official stated that she sees the Blockchain powered logistical pilot leading to a solution that will, in the long term, save millions of euros as well as lead to improved efficiency and transparency of the whole process.

The whole process within the pilot will be paperless and will be confirming the receipt and payment of a trade electronically. The pilot will also enable real-time sharing of documents that will be accessible by the shipper, port operator, and the receiver.

Previous Dedications To Blockchain Technology

The three parties which are the port of Rotterdam, ABN AMRO and Samsung SDS will be launching the pilot at the beginning of the coming year. The port of Rotterdam Authority which is the operator of the port of Rotterdam has previously launched a Blockchain field lab that is tasked with conducting a research on decentralized technology and looking into the various applications that it could be used for.

Samsung SDS is currently a member of a consortium, which comprises of logistical giants and regulating authorities, which is focused on finding a way of putting all imports and exports within South Korea on a decentralized network.

9 Comments

  • Avatar

    calvin klein outlet

    December 17, 2018 - 9:46 am

    Thanks a lot for giving everyone an exceptionally wonderful chance to read critical reviews from this blog. It is usually so enjoyable plus jam-packed with a good time for me and my office acquaintances to search your blog really three times every week to study the latest guides you have. And of course, I’m so certainly satisfied with your magnificent principles served by you. Certain 3 facts in this article are definitely the very best I’ve ever had.

  • Avatar

    air jordan 13

    December 18, 2018 - 11:49 am

    I would like to point out my gratitude for your kindness for men and women that have the need for help with that issue. Your special dedication to passing the message up and down ended up being unbelievably invaluable and has frequently encouraged somebody like me to attain their pursuits. Your insightful report signifies much a person like me and a whole lot more to my office colleagues. Best wishes; from each one of us.

  • Avatar

    nike flyknit racer

    December 19, 2018 - 3:58 pm

    I wish to show my thanks to you for bailing me out of this type of trouble. Right after scouting throughout the the net and seeing suggestions that were not beneficial, I believed my entire life was well over. Existing without the presence of solutions to the difficulties you’ve solved by way of your main blog post is a crucial case, as well as the kind that would have in a wrong way affected my entire career if I hadn’t discovered the blog. Your primary natural talent and kindness in maneuvering a lot of things was helpful. I’m not sure what I would’ve done if I hadn’t come upon such a stuff like this. I am able to at this moment relish my future. Thank you very much for the specialized and result oriented help. I won’t hesitate to refer your site to any person who will need care on this area.

  • Avatar

    lebron 15

    December 20, 2018 - 9:35 pm

    I am just writing to let you understand what a impressive experience our princess enjoyed checking your blog. She even learned a lot of pieces, which included what it is like to possess a great helping mindset to make folks effortlessly know several complex things. You actually did more than visitors’ desires. Thanks for presenting such necessary, dependable, revealing and even fun tips on this topic to Julie.

  • Avatar

    michael kors handbags

    December 22, 2018 - 3:49 am

    I have to convey my admiration for your generosity in support of those people that require guidance on the topic. Your real commitment to passing the message up and down was rather helpful and has in every case enabled ladies like me to realize their aims. Your amazing valuable recommendations indicates a lot a person like me and extremely more to my fellow workers. Thank you; from everyone of us.

  • Avatar

    nike air max 2017

    December 23, 2018 - 9:17 am

    My wife and i felt now delighted when Albert managed to do his homework through the entire precious recommendations he grabbed when using the web page. It’s not at all simplistic just to be making a gift of instructions which often other people may have been selling. We take into account we need the website owner to thank because of that. Those illustrations you made, the simple website menu, the relationships you can help to engender – it’s got most spectacular, and it’s making our son in addition to our family believe that the situation is brilliant, which is certainly truly essential. Many thanks for everything!

  • Avatar

    goyard handbags

    December 24, 2018 - 10:57 am

    Thanks so much for providing individuals with an extremely superb opportunity to discover important secrets from this blog. It’s usually so sweet and jam-packed with fun for me and my office friends to visit your web site particularly 3 times in a week to read the newest guidance you will have. And definitely, I’m so usually pleased considering the brilliant tips you give. Selected 2 ideas in this article are without a doubt the most suitable we’ve ever had.

  • Avatar

    nike react

    December 25, 2018 - 8:19 am

    I want to show my thanks to this writer for rescuing me from this difficulty. Because of exploring through the world wide web and seeing methods which were not productive, I assumed my life was well over. Existing devoid of the strategies to the issues you’ve fixed by way of your good site is a critical case, and ones that could have negatively affected my entire career if I had not come across your site. Your own personal knowledge and kindness in controlling all things was crucial. I am not sure what I would have done if I had not come upon such a step like this. I’m able to at this moment look forward to my future. Thanks for your time so much for the professional and effective guide. I will not think twice to suggest your web sites to any individual who will need direction on this issue.

  • Avatar

    hyperdunks

    December 26, 2018 - 7:46 am

    I intended to draft you that bit of word just to say thanks a lot over again for your personal nice techniques you have shared on this page. This has been certainly unbelievably generous with you to provide unhampered all most of us would’ve made available as an e book to generate some money on their own, mostly given that you might well have done it if you ever considered necessary. Those thoughts additionally served as the great way to be sure that other individuals have similar interest the same as my very own to see more with regard to this problem. I’m certain there are a lot more pleasurable occasions in the future for individuals who view your blog.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Share via