Future Projects and Collaboration between Blockchain and PortDavid Kemp
APSEZ is one of the largest port operators. This Indian company has decided to establish a partnership with a blockchain platform. The latter is one of the creations belonging to IBM. The operator is ready to collaborate with the platform based on blockchain. TradeLens is also interested in this partnership since what these two parties can create may be quite promising.
APSEZ has an individual strategy and unique tactics. The operator is well aware of what their team needs to do to achieve greater results and make their business more successful in the long run. The company is prepared to integrate its partner’s blockchain solutions. The new and innovative technology will cover ten of the operator’s leading facilities used for management. They will use this approach across six states and various ports. Four of the states are in Gujarat. Another one is found in Odisha. The company has several others in Kerala, Chennai, and Tamil Nadu. They also considered including Andhra Pradesh and Goa.
The Post-Pandemic Issues May Need Solutions
It is possible to curb supply chain shortcomings and failures. However, the port needs to implement digitalization, especially now that the world is suffering from the post-pandemic crisis. Some of the local news channels and other information sources report that the operator’s decision to digitize the company’s supply chains has been triggered by the recent crisis and the problems that occurred after the pandemic was over. The government admits that the traditional system is rather vulnerable and cannot meet the requirements set by the country. The supply chain India uses needs improvement and additional support. COVID-19 proved that the current system has too many disadvantages. Its minuses won’t let the country’s population move forward as long as the authorities start applying better solutions. Nowadays it would be unreasonable to rely on manual processes. There are still hundreds of procedures that involve bunches of paperwork. The new technology offers to save time and make worthy and meaningful investments.
People dealing with the logistics industry admit that the pandemic helped everyone realize how important it is to digitize the entire industry. The present mentality needs change. The more companies adopt the technology, the sooner and better life the country will approach.
The platform has many features and most of them are essential to help the port operator share its information much faster. The cost and its efficiency also play a great role. What TradeLens offers is secure and transparent.
The innovation will save millions of U.S. dollars. This would make both importers and exporters more efficient. All in all, the nation would then save up to eight hundred and sixty million USD.
Supply Chains outside India
The above-mentioned platform has moved forward. Its progress is visible and the team has been collaborating with some of the largest industry participants. Their project was aimed at the digitalization of supply chains. Last year the company established a partnership with a shipping terminal focusing on international shipment. The brand is known in Oman – one of the largest ports in the region agreed to co-work with the platform and let them digitize their chain. Another important event occurred two months ago when TradeLens invited Standard Chartered to join the platform and be the first bank applying its technologies.
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