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Hyundai MM first adopts block chain technology on trial operation
Friday, September 08, 2017, 18:38:12 Paul Yoon ckyoon7@paran.com
Hyundai MM said on Sept. 7 that it has successfully completed its first trial operation, introducing a block chain (BC) technology to the sector of shipping logistics.

In ‘Shipping Logistics BC Consortium’ (SLBCC) it participated, the shipping line has carried out the first pilot operation of BC system based on reefer-containers from Aug. 24 through Sept. 4 covering the shipping distance between Busan and Qingdao.

The trial operation has applied BC technology to the whole logistics flow from cargo booking through cargo delivery, testing the possibility of adopting it to the total flow of shipping logistics together with its efficiency.

Hyundai has also tested the possibility of linking IoT technology with that of BC by informing in real time of reefer-containers attached with IoT device in particular through BC technology.

The application of BC technology to shipping logistics will enable all the related persons to share necessary information for customs-clearance such as certificate of origin and export permit and to innovatively simplify diverse documentation works involved including cargo booking information along with the input of B/L as well as to strengthen security by encoding.

Hyundai plans to carry out the second round of pilot testing operation for general containers starting in next October, expanding trading routes to Thailand, India and the Middle East countries to continuously examine the technological issue and systematic supplements in a move to adopt BC technology by the end of this year.

A Hyundai official said: “We are considering varied ideas to adopt IT including BC technology and IoT in a way that service improvements and service quality enhancements can be made. We will take the lead in applying state-of-the-art IT technology to shipping service at an age of 4th industrial revolution.”

Meanwhile, SLBCC launched last May in participation of domestic shipping logistics players and other related organizations has sustained the study to date on introducing BC technology to the sector of domestic shipping logistics.
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