Use blockchain to identify and track ship shipments

Use blockchain to identify and track ship shipments

By ... | World of Crypto | 20 May 2020


Cargo shipments are lost in abundance, and traceability is one of the main problems in modern service chains. If you are a small farmer or trader, you will never have the personnel, time, or capital to track cargo, especially internationally. ShipChain, a blockchain-based startup, believes they can help small industry players better than private blockchains because they make their services available to the public at a lower cost.
ShipChain CEO John Monarch recently announced in an interview that he will start a new partnership with Distichain, a blockchain-based trading company. ShipChain will use its blockchain platform to identify and track shipments to Distichain customers in the Middle East. It is unknown at this time what he will do after leaving the post. Competitors for ShipChain include TadeLens, which is based on the Hyperledger platform, or GrainChai, which is based on the Symbionts platform. Both are based on the private blockchain model and customer growth. Mr Monarch believes his public blockchain is secure and creates more economic incentives for smaller investors and actors to join. He added that more international partnerships with companies that facilitate small business transactions will lead to their faster acceptance into the industry. Mr Monarch said:

Blockchain is an influential network, and we want developers to use our open source system to build new, standard infrastructure.

"ShipChain" is based on the Atrium model. Mr Monarch believes private blockchains are preventing small businesses from participating in supply chain innovations. He added:

Public chains are more pervasive and have no advantage for larger players. On the other hand, private blockchains charge individuals a membership fee.

ShipChain CEO John Monarch also said:

The new partnership with Distichain began with the prospect of creating an advanced technology platform to facilitate the complexity of supply chains. To this end, we have provided a supply chain control tower that uses blockchain to monitor and track shipments around the world to help small and medium-sized businesses. This allows our trading partners to invest their revenue competitively in global markets.

ShipChain has announced that it has pilots with a certificate of completion of the course in the Purdue and Skandinavian Logistics Partners AB (Scanlog) exams. It was removed due to commercial trade security law in the United States.

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