How Blockchain and IIoT are Bringing Innovation to Shipping

In an effort that predicts the future of global trade, 17 tons of almonds have successfully been shipped and tracked from Sunraysia in Victoria, Australia, to Hamburg in Germany in a blockchain-based collaboration between Australia's Commonwealth Bank (CBA) and five Australian and international supply chain leaders. The shipping exercise is a demonstration of a new blockchain platform underpinned by distributed ledger technology, smart contracts, and IoT to facilitate the trade experiment, tracking the shipment from packer to end delivery in parallel to existing processes. The CBA is using the Ethereum blockchain in this project, although they remain open to other options in the future. The CBA platform will be set up on a private blockchain (a network of known and trusted parties), meaning that only participants who are authorized can access information.

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iot,blockchain,logistics,ethereum,iiot,shipping,supply chain,connected industry