CargoSmart Limited introduces a block chain prototype for supply chain management. The US car manufacturer Tesla is one of the partners. Integrating blockchain in supply chain management sounds tempting to many. The technology enables the automatic playback of information that cannot be changed afterwards. For highly automated industries like supply chain management, Blockchain could be a real game changer. The company CargoSmart Ltd. wants to use the technology primarily in the shipping industry.
In cooperation with one of the largest shipping companies in the world, COSCO Shipping Lines, and the car manufacturer Tesla, CargoSmart reports the successful implementation of a pilot project for DLT use in supply chains. According to a press release, measurable success has already been achieved in terms of shipment processing time. This could make supply chains more efficient and faster in the future. However, the project is embedded in an even more ambitious plan. CargoSmart, in cooperation with Tesla and Cisco, is planning to establish a DLT consortium specialising in global supply chains.