Global Shipping Blockchain Officially Goes Live

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In Brief
  • Global Shipping Business Network (GSBN) announced that its blockchain platform has officially gone live.

  • The non-profit tech consortium built the blockchain-enabled operating system in partnership with Oracle, Microsoft, AntChain and Alibaba Cloud.

  • Global Shipping Business Network (GSBN) announced that its blockchain platform has officially gone live.

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The Trust Project is an international consortium of news organizations building standards of transparency.

Global Shipping Business Network (GSBN) announced that its blockchain platform has officially gone live.

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The non-profit tech consortium built the blockchain-enabled operating system in partnership with Oracle, Microsoft, AntChain and Alibaba Cloud. According to the announcement, the system is designed to redefine global trade by accelerating digital transformation within the sector. The independent consortium said that it chose a best of breed approach to technology, ensuring the infrastructure is strong, reliable and highly scalable. 

Partners

GSBN has been working with each of the four technology companies to build different portions of the required infrastructure. For instance, GSBN partnered with Oracle to build the underlying blockchain network for its global trade operating system. GSBN sought to harness its Oracle Blockchain platform in Oracle Cloud, because of its reputation for building an enterprise-grade, permissioned blockchain. 

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Then for the platform layer, GSBN selected Microsoft Azure Southeast Asia Region based in Singapore because of its high scalability, functionality and security. Moreover, Azure’s Availability Zones also ensure high service reliability and availability.

GSBN then chose Ant Group’s AntChain for deployment in China. AntChain has proven to be an enterprise-grade, efficient and reliable platform due to the performance of its blockchain, secure computing, and IoT technologies. Research firm IDC also listed Antchain as the top-ranked provider in the Blockchain-as-a-Service market of China last year. 

Finally, further support will be provided by Alibaba Cloud. Technology consultant Gartner has also recognized it has having the best infrastructure as a Service in the Asia Pacific region.

GSBN

GSBN prioritizes the privacy of its members, so data is encrypted before it is sent to the GSBN platform. As a consequence, GSBN cannot see the data without the members’ authorization. 

Eight global shipping lines and terminal operators initially founded GSBN, which now accounts for one in every three shipping containers handled in the world. Earlier this year, the consortium selected IQAX as a technology partner to develop and operate the blockchain platform.

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Nick is a data scientist who teaches economics and communication in Budapest, Hungary, where he received a BA in Political Science and Economics and an MSc in Business Analytics from CEU. He has been writing about cryptocurrency and blockchain technology since 2018, and is intrigued by its potential economic and political usage. He can best be described as an optimistic center-left skeptic.

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