The marine giant COSCO will start using blockchain

According to Technode, the subsidiary of Alibaba and the Chinese company Ant Group began to cooperate with the third party in the worldship company COSCO.

Both giants will be studied how Ant blockchain can be integrated with the download and tracking of goods in order to optimize the logic through the ports.

Blockchain technology providesa transparent digital register that reduces costs associated with logistics in the maritime business. The platform will connect the maritime cargo industry, which accounts for 90% of trade worldwide, with cargo owners, customs authorities, ship operators, ports and logistics companies.

Ant Group is actively investing in blockchain, introducingdecentralized technological solutions in various industries. At the end of 2019, Ant Financial announced that it had processed more than $6 billion of medical bills on the blockchain since partnering with major pharmaceutical companies, including Bauer.

Entering the ship industry will lead to the blockchain platform being competitive with IBM and the Maersk blockchain platform under the TradeLens name.

Since the moment of its launch in 2018, the platformfor sea logics, based on a blockchain, you can choose from the exclusive growth, which is available for the open ports, including the General Port in India.

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