CargoSmart teams with Oracle on blockchain logistics initiative

CargoSmart Limited, a global shipment management software provider, recently announced its initiative to develop a blockchain solution for shipment documentation to improve complex supply chain processes. 

According to spokesmen, “the solution” establishes a digital baseline for trusted shipment documentation management across the shipping and logistics industry. Shippers, forwarders, carriers, truckers, and customs agencies will be able to collaborate more efficiently through the platform for a single version of truth and an “immutable” audit trail with low latency.

CargoSmart has been working closely with Oracle, which recently launched Oracle Blockchain Cloud Service. Oracle’s blockchain platform enables organizations to build networks to drive more secure and efficient transactions and to track goods through supply chains on a global scale. 

Spokesmen said that its enterprise-grade architecture, interoperability and decentralized governance model make it useful for organizing and tracking international shipments through all involved parties. 

Lionel Louie, Chief Commercial Officer, CargoSmart Limited, told LM in an interview that Oracle Blockchain Cloud Services provides great flexibility for them to design its blockchain solution. 

“We are open for future collaboration with other solution providers to fulfill our fast network expansion,” he added. 

“We created products and services such as the shipment portal and EDI integration to connect shippers and carriers,” said Louie in the interview. “Five years ago, we introduced monitoring and analytics with AI and IoT, which provides predictive insights for both shippers and carriers,” he said. 

“Last year, noted Louie, “we started investigating how blockchain can create optimal value to the logistics industry.”