Shipping them is often the least expensive way of moving them over long distances. Without shipping, the import/export of affordable food and goods would not be possible. One could almost say that shipping is the one industry which, more than any other, makes it possible for a truly global economy to work.
What makes shipping so complex? There are multiple parties involved, from shippers, forwarders, carriers, truckers, and customs agencies, often based in different countries, with different time zones, and with vastly different business systems. They need to work together, often via complex, processes, and as the shipping industry is one of the oldest in the world, it tends to be slow on the technology adoption curve, often these are manual and paper driven.
CargoSmart is seeking to significantly change this and smooth the process, using Oracle Blockchain cloud service, the resulting solution will enable shipping transactions to be easily tracked and traced, helping bring more trust and transparency into the system.
The CargoSmart initiative will provide a blockchain solution for shipment documentation to improve on the current, complex supply chain processes. It aims to provide the organisations involved with a trusted, digital platform for shipment documentation management enabling them to collaborate more efficiently and have a single, immutable version of truth.
This can be referenced so that those involved can track and trace their cargo at each stage of its journey to check its progress and take immediate action should something untoward or unexpected happen, for example disruption from major weather systems, such as Hurricane Florence and Super Cyclone Mangkhut.
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