Container weight blockchain shows tech’s potential

The software, SOLAS VGM, created by Marine Transport International (MTI) to facilitate the sharing of container weights required by international regulations, offers a way to connect a blockchain system with a variety of existing, or legacy, technologies, and so provides “interoperability,” to input information into the technology from multiple supply chain sources, including suppliers, shippers, customs, and terminals.

Blockchain supporters say the technology could prove significant in sending cargo around the world because it stores information on numerous computers, enabling users to access information individually while providing a constant and secure record because the information cannot be retroactively altered. So, for example, a bill of lading could not be secretly altered during the shipping process, because the original is always visible.

The software will be released in the coming weeks, after a pilot period that was the subject of a white paper by a University of Copenhagen information technology professor, and the Blockchain Labs for Open Collaboration.

(JOC)