Yuaben and Maritime Silk Road Platform have co-signed the "Blockchain Technical Service Cooperation Agreement" aimed at providing blockchain services to ease maritime supply chains and ensure the safety of sea-going cargo transportation for maritime freight.
The Yuanben blockchain is a distributed underlying data network, relying on Decentralized Trusted Content Protocol (DTCP) to provide efficient closed-loop solutions for traceable security. The Maritime Silk Road is an internet public booking platform that provides global routes with established global logistics networks across APAC.
The Yuaben blockchain technology is used to provide node deployment and digital content deposit certificates in addition to a search interface for cargo tracking, tracing the movement of cargo.
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"The support for the blockchain technology for the offshore silk road is a new expansion and innovation in the application of blockchain," said Fan Xi, head of the blockchain initiative at Yuanben. "This exemplifies cooperation between emerging blockchain technology and traditional information systems. This successful example of a combination of management system technologies will promote a more efficient, transparent and secure development of the supply chain industry and accelerate the upgrade of global trade."
Due to its size and complexity, international freight transportation often lacks visibility, increasing the cost of logistics management and risk of cargo loss.