Antwerp start-up T-Mining develops Blockchain solution for safe, efficient container release
T-Mining is currently working on a pilot project that will make container handling in the port of Antwerp more efficient and secure, the company said in its press release. Using blockchain technology, processes that involve several parties – carriers, terminals, forwarders, hauliers, drivers, shippers etc. – are securely digitised without any central middleman being involved.
Just getting a container from point A to point B frequently involves 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 (still, nowadays) by fax, paperwork accounts for up to half of the cost of container transport.
A pilot project is currently running in the port of Antwerp with a limited number of parties. “We want to test whether it all works smoothly in practice,” says Nico Wauters. “Together with PSA, MSC, a forwarder and a transporter, we ensure secure handling of the first containers on our blockchain platform. Thanks to the City of Antwerp we even have an office in Singapore where we are working hard to introduce our solution there too. Our ambition is to serve the first paying customers by the end of this year,” Nico Wauters concludes.