ShipChain has launched a new solution called ShipChain Mainnet to help drive complete supply chain transparency, improve security and the transactional capacity to serve the needs of the largest Fortune 500 and Global 500 companies.
This launch is a significant milestone toward achieving a modular system across the entire supply chain. It gives supply chain decision-makers the incentive to move from considering how blockchain might be used in global supply chains to realising its evident promise across transport modes and continents.
“Put simply, we can now fully deliver on blockchain's promise to enable those in the business of trade and logistics to do business with anyone or anything in the world at any transaction size and without an intermediary,” said John Monarch, CEO of ShipChain.
U.S.-based ShipChain provides an end-to-end logistics platform that delivers full visibility to the global supply chain via the blockchain platform, Ethereum, with a sidechain built on Loom for scalability.
The launch of ShipChain Mainnet, a public delegated Proof of Stake sidechain of the Ethereum network, means that ShipChain’s blockchain system is now fully developed and deployed, with blockchain transactions now being broadcast, verified, and recorded with full transparency.
“ShipChain Mainnet vastly increases our transaction capacity, which is essential in an industry such as transportation and logistics,” said Mr Monarch. “This means ShipChain can now support the supply chain tracking and transaction needs of the largest Fortune 500 and Global 500 level enterprises in the world, with capabilities that significantly exceed other alternatives.
“And this is supported by our Track and Trace blockchain-based system, which brings complete transparency and visibility to the supply chain.”
ShipChain Mainnet reduces costs by avoiding the congestion and higher pricing users encounter when using the Ethereum mainnet. It also moves the cost of deployment and contract use away from end-users, simplifying and improving the blockchain user experience.
ShipChain Mainnet also uses a public blockchain rather than a private blockchain. “The lack of trust across companies and actors in shipping today partly stems from a fractured environment - there are no unified systems to truly bring the industry together on one independent platform without competitive risk,” said Monarch. “We believe a public blockchain is safer than operating on a private network controlled by competitors. ShipChain Mainnet provides a protected, permanent ledger of transactions that everyone has their eyes on all at once.
“That doesn’t mean everyone knows exactly what you’re doing - corporations can still preserve privacy on public blockchains very easily. It just increases trust between your company, suppliers, vendors, and even regulatory bodies if needed.
“ShipChain’s public blockchain ecosystem also removes the risk of antitrust legal threats, as well as creating a level playing field for all involved.”
Another benefit of ShipChain’s Mainnet launch is the opportunity it gives to developers to build on top of the ShipChain platform rather than directly on the Ethereum blockchain. This opens up new possibilities for digital freight marketplaces using smart contracts, tokenized inventory management, and robust document management.
“ShipChain will continue to develop for and enhance the offerings on the Mainnet and encourages others to develop and work collaboratively to make it better and more secure every day,” added Mr Monarch.
ShipChain has key partnerships with firms including ScanLog, CaseStack, Zinnovate, ParcelLive, KeepTruckin, DistiChain, GTX Corp, and the World Economic Forum. More key partners will shortly be announced.
“We’ve had a steady flow of new partners, and we hope to be able to announce more soon, including an upcoming deal with a significant Global 500 company, which will significantly expand our modular capabilities even further. We are very excited to begin this next chapter and watch the logistics industry fully embrace the public blockchain.”
Software solutions provider Softship has launched a web-based Pricing Calculator that allows supply chain managers and operators to identify and select optimum end-to-end multi-modal solutions for their customers and achieve full cost transparency.
Klaveness Digital, owned by Norwegian shipowner Torvald Klaveness, has launched a new supply chain analytics division to accelerate digitalisation in the dry bulk industry.
Maersk has launched a new digital platform, Maersk Flow, to assist small and medium sized businesses with the complexity of managing their supply chains.
DP World has completed the early stages of integration with TradeLens a blockchain-based digital container logistics platform, jointly developed by A.P. Moller - Maersk and IBM.
Specialist freight forwarder DG International has announced plans to launch a new cloud-based, single-platform solution bringing end-to-end digitisation, visibility and integration to supply chain management.
Evergreen Line has introduced two new ‘Intelligent Services’ for electronic data transfer among container shipping supply chain stakeholders, including an i-B/L (Bill of Lading) and i-Dispatch, a system that delivers a variety of additional digital documents generated during cargo transactions.
A.P. Moller-Maersk and IBM have announced a new joint venture that will see the companies collaborate in the development of a blockchain-based global trade digitisation platform, built on open standards and designed for use by the entire shipping ecosystem.
Kongsberg Digital is set to purchase a 34 per cent ownership share in NSG Digital, a subsidiary of the Wilhelmsen-owned supply base and logistics company NorSea Group, whom Kongsberg Digital will partner in efforts to digitalise the supply chain in the oil and gas and offshore wind industries.
INTTRA has added two new Cloud-based products to its digital transactions platform, adding a new Container Forecasting and Allocation Solutions Tool (C-FAST) for freight forwarders and NVOCCs, as well as launching an improved version of its Ocean Schedules system.
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