Jade Logistics has announced a step into the blockchain area, through a partnership with Swiss-based platform provider CargoChain.
Geneva-based CargoChain has developed a cargo information sharing platform that is focused on information sharing though the development of cost effective and rapidly deployable applications, including blockchain. CargoChain was formed out of Jade Logistics, but has been set up as and operates as a separate, independent company.
“CargoChain’s blockchain solution includes a unique Information Sharing Protocol and deep supply chain functionality that provides the ability to share any type of data, without the restrictions of legacy technology like EDI. The CargoChain Platform also provides tools that allow developers to build and deploy cost-effective applications that solve supply chain problems of any size,” the companies stated.
Tony Davis, Director of Marketing, Jade Logistics Group explains that CargoChain stores data and uses blockchain share a hash of cargo events. “All rich cargo information is stored ‘off-chain’ on the CargoChain Platform. CargoChain uses Hyperledger Fabric to store a hash of all cargo events ‘on-chain’ to CargoChain’s own public blockchain. This approach mitigates the scalability challenges of blockchain when faced with large volumes of rich data, while at the same time providing complete trust in all the information that is stored on the CargoChain Platform.”
Guirec Le Bars, Chief Technology Officer at CargoChain is backing the company to revolutionise supply chain data sharing. "We believe the partnership will revolutionise the way cargo information is shared between global supply chain participants. It will enable the secure distribution of rich cargo information among trusted partners which has previously been unavailable, until now,”he said.
For Jade Logistics, increased collaboration and access to a common set of cargo information are crucial as the logistics industry seeks to drive greater efficiencies and productivity. “With Jade’s Master Terminal TOS in operation at over 125 terminals worldwide, Jade and CargoChain are well positioned to play a major role in this exciting new era of global logistics. Both companies will work closely with Jade’s existing Master Terminal customer base, and their business partners, to assist with their information sharing needs. Initial CargoChain applications are already in development for specific Master Terminal customers as well as pilots for significant supply chain projects.
“As independent players in the industry, Jade Logistics and CargoChain are committed to contributing to a democratised supply chain, that encourages across-the-board collaboration, seamless information sharing, and innovation,” Jade concluded.