Maritime Blockchain Labs (MBL), founded by blockchain technology and governance experts BLOC and the Lloyd’s Register Foundation (LRF), announced the establishment of a consortium to explore the use of blockchain in tackling the significant risks and challenges associated with the declaration and handling of dangerous goods.
“According to the Cargo Incident Notification System (CINS), nearly 25% of all serious incidents onboard containerships were attributable to mis-declared cargo. In light of this, the consortium will explore the use of digital tools for traceability of dangerous goods cargo, and immutable attestations and digital audit trails for due diligence with a view to generating more transparency and accountability in tracking dangerous goods; ultimately, reducing incidents.
The MBL consortium will build and test a prototype to assess the potential for distributed ledger technology (DLT) to address the challenges faced by stakeholders throughout the supply chain. Funded by LRF and conducted in partnership with Rainmaking, the consortium includes Copenhagen Malmö Ports (CMP), Flexport, X-Press Feeders, SecureSystem, DSV, Port+, Agility and MTI. It represents stakeholders throughout the value chain, from ports, to carriers, to technology and service providers.”
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