Supply chain management was supposed to be a killer application of blockchain outside cryptocurrencies and NFTs. But the end of Maersk and IBM’s TradeLens last fall caused some to doubt the tech’s applicability – but not Hong Kong’s GSBN. https://www.scmp.com/tech/tech-trends/article/3216365/blockchain-based-logistics-looks-increasingly-chinese-after-exit-maersk-hong-kongs-gsbn-has-global
GSBN has eight major shipping and terminal operators as shareholders, each with equal voting rights in the governance of its blockchain. The nonprofit is out to prove blockchain has a future in supply chains, but the CEO admits it could take a while.
Why use blockchain at all when trade seems to work just fine without it? Advocates say it can help reduce some of the remaining barriers to digitization, like the fact that the bill of lading is still largely paper-based.
One significant challenge to overcome, though, is a lack of agreed standards for exchanging trade data on a blockchain and between blockchains. Shipping containers and electronic data interchange documents were only widely adopted after a push from standards bodies.
