Jade Logistics launches new blockchain solution

Port software company Jade Logistics Group has launched a new business named CargoChain, which it has claimed will “revolutionise” the way that cargo information is shared across the global supply chain.

CargoChain has created an information sharing and innovation platform that supports the distribution of previously unavailable data, as well as the development of third-party applications.

David Lindsay, CargoChain’s CEO, explained that the idea came from witnessing first-hand an inability to share supply chain information amongst multiple interested parties.

He added: “We observed this first with ports and then looked across the entire supply chain, and the problems were the same. Siloed, important information that supply-chain actors didn’t have, but needed, to make better decisions.”

While those involved in the supply chain require full transparency and visibility, consumers demand trust which the platform aims to provide by sharing trusted data amongst all supply chain actors.

It is one of the few supply chain solutions in the world that uses blockchain technology to provide the trust, an initiative which is gaining traction in the maritime industry but that Lindsay said most companies are struggling to incorporate into their businesses.

Although, according to Lindsay, the platform itself provides significantly more to supply chain actors than blockchain and the company’s vision is to provide the platform to application developer communities globally.

“We want to allow developers to solve the world’s supply chain problems for all logistics players, large or small,” Lindsay explained.

Initial applications of the platform are already in development for some of the company’s Australian and New Zealand customers with additional pilots for other supply chain projects.

In New Zealand particularly, there is interest from major food exporters who need to prove complete provenance with an emphasis on food trust and safety.