Samsung SDS has entered the European maritime logistics market based on a blockchain platform.
Samsung SDS announced on October 21 that the company signed an agreement on a maritime logistics project based on blockchain technology with ABN AMRO, one of the three largest banks in the Netherlands, and the Rotterdam Municipal Port Management which processes the largest cargo volume in Europe.
Samsung SDS plans to link its blockchain platform “Nexledger” to ABN Amro's blockchain platform “Corda” to apply blockchain technology to the maritime logistics business of the Rotterdam Municipal Port Management.
When this pilot project is completed in February of next year as scheduled, it will simplify financial transactions, realize a real-time sharing of import and export documents, and prevent forgery and falsification of documents for transport cargoes to Rotterdam Port from Asia.
In particular, Samsung SDS's blockchain platform will be linked with ABN Amro's platform specialized in financial transactions, which will verify the former’s compatibility with other platforms. Last year, Samsung SDS already proved the stability of the Nexledger platform by undertaking a maritime logistics blockchain consortium project involving 38 private companies, public organizations and research centers in Korea.