First Blockchain Pilot Voyage Successfully Completed by HMM

Image Courtesy: HMM

Hyundai Merchant Marine (HMM) announced that it successfully completed its first blockchain technology adopted pilot voyage.

The first pilot voyage with reefer containers took place between August 24 to September 4  from Korea (Busan) to China (Qingdao). The company reviewed the feasibility of using this technology for logistics and shipping after it holistically (from booking shipment to delivery of cargo) applied the blockchain technology to the pilot voyage. In addition, the Internet of Things (IoT) technology was tested along with the blockchain technology and reviewed through real-time monitoring and managing of the reefer containers on the vessel.

An HMM official said, “We are reviewing various ways to improve our service and its quality through adopting IT technologies” and that “by adopting the high-end IT technologies such as blockchain and IoT in shipping and logistics, we will become one of the pioneers of the Fourth Industrial Revolution within the industry.”

The company is planning its second pilot voyage with dry containers next month. The voyage is expected to move to areas such as Thailand, India and China with expanded blockchain technology procedures and IoT technology.

In other news, NYK Line announced that it has also joined the consortium for blockchain technology concerning that it has a potential to be the plat-form of logistics supply chain and it will result in improving services in future.