Advertise
CoinTrust
BTC
ETH
BCH
SOL
DOGE
SHIB
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
No Result
View All Result

Home » Accenture’s Blockchain Sol. For Ocean Shipping Tested Successfully

Accenture’s Blockchain Sol. For Ocean Shipping Tested Successfully

Carolyn Dawson by Carolyn Dawson
Jun 15, 2018
in Market News, News
Reading Time: 2 mins read
0

A consortium comprising AB InBev, Accenture, APL, Kuehne + Nagel and a European customs organization have successfully tested a block chain solution that can eliminate the need for printed shipping documents. If implemented, the blockchain solution could save the freight and logistics industry hundreds of millions of dollars annually. The tests confirmed that blockchain can reduce operating costs and increase supply chain visibility.

The consortium conducted the blockchain integrated trial on 12 shipments destined to different ports having varying regulatory requirements. In the shipment process AB InBev represented a typical exporter, while APL acted as a shipping organization. Kuehne + Nagel provided direction on the requirements for a freight forwarder and a European customs organization replicated the regulatory requirements that cargo faces. The blockchain architecture was developed by Acceuture at their Singapore IoT Hub.

During the testing process, none of the shipping documents were exchanged physically. The relevant data was shared and distributed using blockchain technology. The study indicated that blockchain can quicken the flow of shipping documents, while reducing the requirement for data entry by nearly 80%. The solution can also simplify data amendments across the shipping process and streamline the checks required for cargo. Ultimately, the risk of penalties is and the burden of customs compliance is reduced for customers.

Adriana Diener-Veinott, who leads Accenture’s Freight & Logistics industry practice, said

“Our trials have proven the viability of a shipping process in which many documents can be replaced by secure and distributed data sharing with clear and defined ownership. This gives companies a significant opportunity to save time and money while improving their service to customers.”

A cross-country shipment involving automotive, consumer or retail goods requires a minimum of 20 different documents. Most of these paperworks are required to move goods from exporter to importer.The study revealed that nearly 70% of the data can be replicated by blockchain.

Eddie Ng, head of Strategic Liner Management at APL

“As a facilitator of global trade and strong advocate of innovation, APL sees much potential in blockchain technology to accelerate the digital transformation of the container shipping industry, moving us from traditional paper-based transactions to more efficient, more secure and faster processes along the entire supply chain. We are therefore happy to be part of the exciting journey to explore how disruptive technology like blockchain can benefit our industry, and ultimately our shippers and their customers.”

Martin Kolbe, Chief Information Officer of Kuehne + Nagel International AG, said,

“As part of Kuehne + Nagel’s digitalization strategy, we explore innovative technologies to create benefits for our customers. Blockchain is one of the most promising technologies in logistics. It has the potential to digitalize many of today’s paper-based processes and overcome the multitude of different interfaces. From our perspective, the open and collaborative approach applied in this project is key to gaining traction in the industry and the required market acceptance.”

Danillo Figueiredo, VP of International Logistics, AB InBev.

“We continually evaluate new technologies and innovations to enhance our operations to meet consumer needs and deliver the freshest beer. Blockchain technology will be transformational to our business and the world. It reduces mistakes, digitizes information and improves the supply chain process so we can focus on our core business of brewing the best beers for consumers.”

Previous Post

Japan FSA Warning To Binance Causes Bitcoin Value To Drop Yet Again

Next Post

Vaulty Provides Single Link For Transacting In Dozens Of altcoins

Related Posts

etherscan-unveils-hyperevm-scan

Etherscan Launches HyperEVM Scan to Boost Web3 Transparency

by Kelly Cromley
Jul 8, 2025
0

Etherscan, widely regarded as a leading blockchain data provider for the Ethereum network, has introduced a new dedicated block explorer...

Gunz-expands-native-token-to-solana-blockchain

$GUN Token Joins Solana in Major Blockchain Expansion

by Kelly Cromley
Jul 8, 2025
0

GUNZ, the Layer 1 blockchain ecosystem powering the AAA gaming title Off The Grid (OTG), has revealed plans to expand...

datavault-ai

DataVault AI Acquires SyncIN Tech to Advance Web3 Payments

by Kelly Cromley
Jul 8, 2025
0

DataVault AI Inc. (NASDAQ: DVLT), a technology firm based in Beaverton and currently valued at approximately $52 million, has announced...

tron-partners-with-trump

Tron Moves to Support TRUMP Coin Amid Market Uncertainty

by Kelly Cromley
Jul 8, 2025
0

Tron has disclosed its intention to integrate the TRUMP meme coin onto its blockchain through the LayerZero protocol, in a...

Dubai Land Department Partners with Crypto.com

Dubai Teams Up with Crypto.com to Digitize Real Estate Market

by Kelly Cromley
Jul 7, 2025
0

The Dubai Land Department (DLD) has entered into a strategic agreement with global cryptocurrency firm Crypto.com to establish a digitally...

hyperscale-data

Hyperscale Data to Launch Solana Validator Node in 3Q25

by Kelly Cromley
Jul 7, 2025
0

Hyperscale Data, Inc., listed on the NYSE American under the ticker GPUS, has announced that its fully owned subsidiary, Ault...

Next Post
Vaulty Provides Single Link For Transacting In Dozens Of altcoins

Vaulty Provides Single Link For Transacting In Dozens Of altcoins

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Collé Ai

    Collé: Pioneering AI Web3 Platform Receives Investment Boost from BlackRock

    by Kelly Cromley
    May 13, 2024
  • Router Protocol and OpenWorldSwap Partnership to Revolutionize DEX Market

    by Kelly Cromley
    Aug 6, 2024
  • Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements

    by Kelly Cromley
    Aug 17, 2023
  • GameStop’s Digital Transformation: Embracing Blockchain and NFTs

    by Kelly Cromley
    Feb 2, 2025
  • Blockchain Based Sports Platform SportsMint Unveiled

    by Kelly Cromley
    Apr 30, 2024

Recent News

etherscan-unveils-hyperevm-scan
Market News

Etherscan Launches HyperEVM Scan to Boost Web3 Transparency

by Kelly Cromley
Jul 8, 2025
Gunz-expands-native-token-to-solana-blockchain
Market News

$GUN Token Joins Solana in Major Blockchain Expansion

by Kelly Cromley
Jul 8, 2025
datavault-ai
Market News

DataVault AI Acquires SyncIN Tech to Advance Web3 Payments

by Kelly Cromley
Jul 8, 2025
tron-partners-with-trump
Market News

Tron Moves to Support TRUMP Coin Amid Market Uncertainty

by Kelly Cromley
Jul 8, 2025
Dubai Land Department Partners with Crypto.com
Market News

Dubai Teams Up with Crypto.com to Digitize Real Estate Market

by Kelly Cromley
Jul 7, 2025

Categories

  • Altcoin News
  • Analysis News
  • Binance Coin News
  • Bitcoin News
  • Blog
  • Cardano News
  • Ethereum News
  • ICO News
  • Legislation News
  • Market Forecasts
  • Market News
  • News
  • Ripple News
  • Solana News
  • Tether News
Trustpilot

Cointrust

  • About Us
  • Contact Us
  • Correction Request
  • Our Team

Legal

  • Disclaimer
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy

Popular

  • ICO Listings
  • Knowledge Base
  • All about Mining
  • Cryptocurrency Exchanges
  • How and Where to buy Cryptocurrency

Sitemap

  • News section
  • Sitemap
  • XML Sitemap

© 2024 CoinTrust.com.

CoinTrustCoinTrust

* DISCLAIMER: All information provided in CoinTrust is merely for informational purposes, we are not an investment advisor and not affiliated with any companies or ICO/Cryptocurrency Projects. To use this website you must accept our cookie policy, Disclaimer and Privacy Policies.

No Result
View All Result
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos

© 2024 CoinTrust.com.

We use cookies to ensure that we give you the best experience on our website.
If you continue to use this site you agree to allow us to use cookies, in accordance with our Cookie Policy.
I Agree