Blockchain solution for container security

The project comprises digitalising processes that currently involve multiple parties by using blockchain technology. The technology aims to remove the need for middlemen and the risk of compromising security during the physical handover of containers in ports.

Nico Wauters, CEO of T-Mining, said: “With our blockchain platform the right truck driver is given clearance to collect a particular container, without any possibility of the process being intercepted. Furthermore our blockchain platform uses a distributed network, so that the transaction can go ahead only if there is consensus among all participating parties, thus excluding any attempts at fraud or undesired manipulations.”

T-Mining highlighted pin code security as an issue when containers arrive in the port to be collected from the terminal by a truck driver or shipper, stating that the “PIN code is transmitted via a number of parties, which of course is not without risk.”

The company also believe blockchain technology will help speed up container handling and reduce operational and administration costs for all stakeholders in the logistic chain.

A pilot project is currently running in the port of Antwerp with a limited number of parties. “We want to test whether it all works smoothly in practice,” said Mr Wauters. “Together with PSA, MSC, a forwarder and a transporter, we ensure secure handling of the first containers on our blockchain platform.”

He added: “Our ambition is to serve the first paying customers by the end of this year.”

T-Mining also aims to launch its service in Singapore, where it has an office.