16 BULKDISTRIBUTOR Asset Management September / October 2017
16 BULKDISTRIBUTOR Asset Management September / October 2017
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Blockchains are among the latest disruptive technologies that are breaking the mould by which business relationships are conducted . A blockchain is simply a continuously growing list of records , called blocks , which are linked and secured using cryptography . Each block contains typically a hash pointer as a link to a previous block , a timestamp and transaction data . By design , they are inherently resistant to modification of the data . The first distributed blockchain was conceptualised by Satoshi Nakamoto in 2008 and implemented the following year as a core component of the digital currency bitcoin , where it serves as the public ledger for all transactions . The world of logistics is now turning the technology . Antwerpbased T-Mining is currently working on a pilot project that will make container handling in port of Antwerp more efficient and secure . Using the technology , processes that involve several parties ( carriers , terminals , forwarders , hauliers , drivers , shippers , etc ) are securely digitised without any central middleman being involved . More recently a successful pilot programme run by logistics technology company Marine Transport International ( MTI ) demonstrates that the logistics industry will see improved connectivity , efficiency and security thanks to blockchain , the firm claims .
MTI , in conjunction with Agility Sciences , released a whitepaper detailing the deployment of their Container Streams system in a supply chain environment . The results of the pilot have been verified by scientists at the University of Copenhagen and maritime technology leads at Blockchain Labs for Open Collaboration ( BLOC ). The project , which connects the supplier , shipper , load point , customs and terminal on a shared blockchain ledger , has far reaching consequences for the logistics industry as it seeks new ways to improve security and profitability . All parties involved in the supply chain benefit from automated data flows as the system allows complete interoperability of data sources , even including legacy systems . Jody Cleworth , CEO of MTI , says the results of the pilot demonstrate the strengths of blockchain technology when deployed to link the various actors in the supply chain . “ We are confident that firms throughout the logistics industry will see a broad spectrum of benefits stemming from blockchain deployment ,” Cleworth states . “ The blockchain has proved to be an excellent way of connecting the different parties involved in any supply chain environment due to the transparency and security-by-design of the technology . In recent months , the shipping industry has fallen victim to industrial-scale cyberattacks which have left large shipping lines , such as Maersk , completely paralysed and unable to serve clients .
MTI ’ s Container Streams project connects supplier , shipper , load point , customs and terminal on a shared blockchain ledger
www . SAVVY-TELEMATICS . com
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“ A blockchain-enabled supply chain is highly resilient to cyberattack – a copy of the essential shipping data is stored on each node on a decentralised network , meaning that even if one node is compromised , the data is safe ,” he says . “ The business case for connecting supply chains using blockchain is very strong . As the interface is easily adaptable to existing systems there is a very low barrier to entry . Any type of supply chain business , be it marine- , air- , or land-based , can take advantage of such a system – the cost savings that we envisage are as high as 90 percent , as a result of substantially streamlined processes .” Karim Jabbar , from the Department of Computer Science at the University of Copenhagen , adds : “ The pilot demonstrates the great potential for distributed ledger technologies to be used in improving supply chain processes . The Container Streams system is unique in the fact that it does not require the complete replacement of existing systems - instead , MTI ’ s solution allows complete interoperability with existing legacy infrastructure . The logistics industry as a whole can expect better visibility , connectivity and cost savings as a result of distributed ledger adoption .” BLOC has documented the first phase of this use case , its implications for the maritime industry and the resulting development of a turnkey application ecosystem for global logistics . However , CEO Deanna MacDonald points out that the future potential of the platform rests on collaboration from the different actors in supply chains in order to identify clearly the problems and co-create applications that solve for the collective challenges they face . www . marinetransportint . com
Chip could monitor rail wagon leakage
A powerless microchip which detects oil and chemical leakage caused by corrosion has the potential to help monitor the condition of rail freight wagons . Initially developed by Dutch engineers at Arcadis for wider the oil & gas market , the chip is read by ‘ smart ’ readers , and is potentially a solution for what Arcadis describes as ‘ poor ’ current methods for detecting the major issue of corrosion and leakage . The first prototype of the chip , which fits on a freight tank gasket , has been tested on liquids , as it has a specific element which reacts to hydrocarbons which make up most of the chemical components of crude oil . The chip works via a radio signal , using RFID technology , and therefore can transfer information wirelessly . It could then communicate with reading portals placed at strategic locations along a freight rail line , providing operators with critical information about any leakages detected . There is also the potential for it to work with gases , but Arcadis has not yet tested this . Martin Voorma , innovation manager at Arcadis Nederland , said : “ We did some projects for oil & gas clients with regards to engineering pipes , and concluded that there was no suitable method for detecting leakage and corrosion at low cost , and which needs no power , and as a result we looked into developing this solution . “ During those years I noticed incidents in the media relating to leakage from rail wagons , which disrupt rail traffic ,” he added . “ So it got me thinking : could this chip also combat that challenge through early detection and prevent the problem becoming worse ?”