Busan port operator to demonstrate blockchain-based smart logistics system

By Park Sae-jin Posted : June 9, 2021, 15:38 Updated : June 9, 2021, 17:49

[Courtesy of Busan Port Authority]

SEOUL --  South Korea's main maritime gateway will demonstrate a blockchain-based smart logistics system that would speed up the transporting process for freight containers. The system will group container trucks by ships so that cranes would pick up cargo boxes in order. It will reduce labor costs and the time taken to load containers onto a ship.

Blockchain is a virtual ledger technology that is unhackable. It is ideal for the management of logistics information and financial records. Busan Port located in the southern city of Busan was selected in a government project to develop core technologies and an unmanned smart logistics system using autonomous equipment in July 2020.

The Busan Port Authority (BPA), the operator of the world's fifth-largest port, said in a statement on June 9 that it will demonstrate a blockchain-based logistics system platform at four container piers starting next month. The demonstration will involve five logistics companies to monitor the location of containers and minimize the travel distance and transport time.

BPA said that truck drivers carrying cargo can make reservations for loading time slots to minimize waiting time. It will take less than 30 minutes for a cargo truck to enter the port and unload its cargo, according to the port operator. Normally, it takes about two to three hours for truck drivers to wait in their vehicles until their cargo is put on to a ship.
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