Russia: Cargo Shipping Firm to Use Blockchain in Port Logistics

A Russian cargo shipping firm deploys blockchain in more than ten ports across the country to increase overall capacity.

Russian shipping logistics company Infotech Baltika will develop a blockchain-based system for the ports in which it operates, Russian maritime news outlet Morvesti reported on Feb. 11.

To develop the blockchain-based solution, dubbed Edge.Port, the firm has partnered with Moscow-based blockchain startup Iconic.

The network will reportedly allow participants in port activity to store all necessary documentation on a blockchain. According to Morvesti, all services in port, including vessel parking and tug boat rentals, can be ordered and tracked online via the system, without time-consuming paperwork.

Infotech Baltika told the publication that Edge.Port will enable the firm to reduce the time spent on port operations from four hours to 25 minutes.

Moreover, the use of blockchain could…

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2019-02-12 13:59:00

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Written by Cointelegraph

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