COSCO and OOCL utilise blockchain technology to verify safe transport of chemical cargo

Blockchain-based platform Global Shipping Business Network (GSBN) has collaborated with COSCO Shipping, Orient Overseas Container Line (OOCL), and the Shanghai Research Institute of Chemical Industry Testing (SICIT) to achieve a proof-of-concept in utilising blockchain technology to safely transport chemical cargo.

For the carriers and subsequent transportation companies in the supply chain, hard copies or scanned copies of safe transportation certificates can be hard to verify, thus carrying risks such as mislabelling and fraud.

A new streamlined process has been designed to ensure that safe transportation certificates and the information they contain can be verified from the original source, and the information is accurate and reliable.