The blockchain digital trade platform built by Global Shipping Business Network (GSBN), in partnership with Oracle, Microsoft, AntChain and Alibaba Cloud, has officially gone live.
The GSBN consortium was founded by a group of global shipping lines and terminal operators accounting for one in every three containers handled in the world, including COSCO SHIPPING Lines, COSCO SHIPPING Ports, Hapag-Lloyd, Hutchison Ports, OOCL, SPG Qingdao Port, PSA International, and Shanghai International Port Group.
Since its formation the consortium has been working with the four technology companies to build the infrastructure needed to run its envisaged blockchain system.
To ensure that members maintain control of their data it is encrypted before it is sent to the GSBN platform, so it cannot be viewed without the members’ authorisation.
To build the underlying blockchain network, GSBN partnered with Oracle to implement its Oracle Blockchain platform in Oracle Cloud. For the platform layer, GSBN is working with Microsoft Azure’s Southeast Asia Region in Singapore.
For deployment in China, Ant Group’s AntChain blockchain was selected, further supported by Alibaba Cloud.
Earlier this year, GSBN announced it had selected IQAX as the technology partner to develop and operate the blockchain platform.
