Samsung Teams up With ABN AMRO and the Port of Rotterdam on Blockchain
Samsung’s IT subsidiary, Samsung SDS, has reportedly partnered with Dutch giants ABN AMRO and the Port of Rotterdam on a blockchain pilot, the Korea Joongang Daily reports.
The partnership will focus on logistics, with Samsung SDS linking its Nexledger blockchain product with ABN AMRO’s financial transaction-oriented Corda platform by February. By the linking the two, they hope to verify if the system is compatible with other blockchain systems. The aim is to use blockchain for the paperless management of container payments, administration, and transportation, all of which currently take place though separate circuits.
Here’s what Daphne de Kluis, ABN AMRO’s CEO of Commercial Banking, had to say about the project:
“We will be integrating all these flows in our pilot: from workflow management combined with track & trace to the digitisation of paper documentation such as waybills and the financing of handled freight or services. The ultimate goal is to reach an open, independent and global platform that operates from the perspective of shippers. This will make the logistics chain more transparent and efficient, and millions of euros can be saved in the long term.”
The Port of Rotterdam appears to have high hopes for the project, saying that “transportation, monitoring and financing of freight and services should be just as easy as ordering a book online,” while Samsung SDS sees the pilot as a potential launching pad for the company’s blockchain work:
“The project came after Europe took note of Korean marine logistics blockchain services,” said Kim Hyung-tae, vice president and general manager of the smart logistics unit at Samsung SDS. “It will help our global blockchain business expand and improve our competitiveness.”