{mprestriction ids="1,2"}The goal of the project is to create secure digital transactions involving carriers, terminals, forwarders, hauliers, drivers and shippers, that can be processed without any central middleman being involved.

T-Mining notes that just getting a container from point A to point B can often involve more than 30 different parties, with an average of 200 interactions between them. Given that many of these interactions are carried out by e-mail, phone and even by fax, paperwork could account for up to half of the cost of container transport, the company estimates.

T-Mining’s system will see containers arriving in the port collected from the terminal by a truck driver or shipper using blockchain technologies to verify their identity in a simple and efficient manner.

“With our blockchain platform the right truck driver is given clearance to collect a particular container, without any possibility of the process being intercepted,” said Nico Wauters, CEO of T-Mining.

“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.”

The pilot project is currently running in the port of Antwerp with a limited number of parties to test the effectiveness of this method of container transfer, the company says, with the ambition being to serve the first paying customers by the end of this year.{/mprestriction}